Kingsrose downgrades production expectations
PERTH (miningweekly.com) – Gold miner Kingsrose Mining has downgraded its production expectations at the Talang Santo mine, in Indonesia, as the company deferred the mining of high-grade tonnes.
For the 2015 financial year, Kingsrose was expected to produce between 30 000 oz and 35 000 oz of gold, instead of the previously advised 40 000 oz of gold.
The miner told shareholders on Friday that the anticipated ramp-up in production had not yet been achieved since mining started in mid-July this year, with the mine currently hoisting some 315 t/d of ore.
The previous mine schedule had factored in around 60 t/d from the high-grade 2 Level stopes, but Kingsrose noted that ground conditions have necessitated the introduction of additional ground support to ensure the safe extraction of ore, resulting in the mining rate from the production areas being reduced to around 20 t/d from 2 Level.
The requirements for additional pillars were currently under review.
Kingsrose noted that a proportion of the production from the 2 Level would be deferred over a longer mining period and into the next financial year.
While operating costs were currently running below the forecast levels of between $670/oz and $720/oz, Kingsrose has warned that the reduced production rate anticipated at Talang Santo could see a short-term increase in unit costs. However, the miner noted that once steady state production levels have been attained, the all-in sustaining costs would fall to within the guidance range.
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
As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...
VISIT SHOWROOM
From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...
VISIT SHOWROOM
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
