Kingsgate lowers production expectations at Chatree
PERTH (miningweekly.com) – Gold miner Kingsgate Consolidated on Thursday lowered the full-year production expectations at its Chatree gold mine, in Thailand, citing permitting delays.
Its production guidance was lowered to between 95 000 oz and 105 000 oz, compared with a previous forecast of between 125 000 oz and 135 000 oz.
The company said that permitting delays had constrained access to various orebodies and placed undue pressure on the ageing mine fleet, while also impacting on the mine plan.
Mining activities at Chatree were suspended last year, and only resumed in March 2015, after Thai authorities lifted a temporary suspension order, which was issued after random urine and blood tests of villagers living near the mine revealed above-standard arsenic and manganese levels.
A subsequent environmental report had confirmed that the Chatree operation was not the source or cause of the elevated arsenic and manganese levels.
Kingsgate stated that despite the mine being active since 2001, the operation was now subject to bureaucratic delay and an investigative burden based on false accusations that were significantly constraining the operation, holding back investment, and creating operating inefficiencies.
“The business has overcome hurdles in the past, and we are confident that we will continue to do so in the future,” CEO Greg Foulis said.
He noted that the deferred ounces from the 2016 financial year would be mined in 2017, and that the company would generate positive cash flow from Chatree in 2016.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Astore Keymak is one of South Africa’s leading suppliers of high-quality Thermoplastic Pipeline Systems, with branches in the major provinces.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
