Resolute MD and CEO John Welborn
PERTH (miningweekly.com) – Gold miner Resolute Mining on Wednesday reported that its 400 000 oz gold production target for 2019 had been narrowly missed as the sulphide circuit at the Syama mine, in Mali, remained off line for most of the December quarter.
Resolute’s gold production for the December quarter was 2 092 oz higher than the previous quarter, at 105 293 oz, with full year group production being reported at 384 731 oz.
The miner told shareholders that the unscheduled material loss of production from the Syama sulphide circuit was balanced by the outperformance of the oxide circuit, as well as a strong performance from the Mako gold mine, in Senegal, and the Ravenswood gold mine, in Queensland.
“Syama sulphide production fell well short of our expectations in both the September and the December quarters. Our operating and project teams have worked hard to offset lost production with strong performance from our other operating assets,” said MD and CEO John Welborn.
The Syama operation delivered 243 058 oz during the full year, of which 180 534 oz was produced at the oxide circuit and 62 524 oz at the sulphide circuit, while Mako added another 87 187 oz and Ravenswood another 54 486 oz.
“The repairs to the Syama roaster are now complete and the sulphide circuit is ready for a strong performance in 2020. In addition to managing the challenge of the Syama roaster repairs, we have made significant progress in delivering on our strategy during 2019. We have now fully commissioned the Syama underground mine, refurbished the Syama sulphide circuit, acquired the Mako gold mine on highly value accretive terms, generated excellent exploration success at Tabakoroni, completed Stage 1 of the Ravenswood expansion project, and significantly progressed the strategic review of Bibiani.
“With a pipeline of growth opportunities and Syama positioned to deliver on its potential, I am highly optimistic for 2020,” said Welborn.