Millennium downgrades full-year expectations
PERTH (miningweekly.com) – Western Australian gold miner Millennium Minerals has downgraded its production expectations for the 2019 calendar year, on the back of delays in mining approvals for the openpit operation and delays in the ramp-up of the Bartons underground mine and the commissioning of the sulphide plant.
Millennium on Friday revised its full-year production guidance from the previous estimate of between 80 000 oz and 90 000 oz, to between 70 000 oz and 75 000 oz.
During the September quarter, the Nullagine operation, in the Pilbara, is expected to produce about 18 000 oz, increasing to 20 000 oz in the December quarter.
Millennium in June undertook an optimisation study for the Nullagine project, which found the 20 000 oz a quarter to be the optimum quarterly production rate for the mining and processing operation, based on sustainable operating parameters.
The miner noted that while this targeted production rate was considered sustainable, Millennium would not make up the production shortfalls incurred in the previous quarter, prompting the miner to downgrade its full-year expectations.
The review also confirmed that cost savings at Nullagine could be achieved by moving away from the current owner-operator hybrid model at the openpit operation, to an owner-operator model for load and haul operations.
Millennium will now move to an owner-operator model in October, when the current openpit load and haul mining contract expires.
The Bartons underground operation will continue on a full contractor basis.
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
For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...
VISIT SHOWROOM
Iritron delivers advanced automation, control, and optimisation solutions to the Mining, Minerals & Metals, Consumer Package Goods and...
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
