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(TALKZIMBABWE) Freda Rebecca mine reaching gold production target

Freda Rebecca mine reaching gold production target
By: StockMarketWire.com
Posted: Thursday, October 21, 2010 2:22 am

MINING group Mwana Africa reported gold production at the Freda Rebecca mine in Zimbabwe of 2,600oz in September, nearing its consistent Phase 1 target rate of 30,000oz per annum. Production operations restarted at Freda Rebecca a year ago with completion of the first phase of a two-phase refurbishment programme.

Mwana said early production difficulties were caused by poor availability of the refurbished mining fleet but this was addressed in July with the purchase of two new haul trucks. Since then production tonnage, grade and recovery had made steady progress towards its target.

A total of 11,920oz was produced March-September, generating $14.8m in revenue. Preparatory work had commenced on the Phase 2 mill refurbishment. Mwana also said debt and off-take terms for its Bindura restart programme were under negotiation.

In its Zani Kodo, DRC, exploration programme, it had identified gold mineralisation at predicted locations and had confirmation of potential significant mineralisation along the complete 9km strike length of the trend.

Labels: FREDA REBECCA MINE, GOLD, GOLD MINES, MWANA AFRICA PLC

posted by MrK @ 3:22 AM