6% reduction in Sibanye-Stillwater gold produced in SA
Published by Claire Cuddihy,
Assistant Editor
Global Mining Review,
Sibanye-Stillwater’s production from its South Africa gold operations for the year ending 31 December 2018 has been revised by 6% less to between 36 500 kg and 37 500 kg (1.17 million oz and 1.21 million oz), with All-In Sustaining Costs (AISC) revised to between R515 000/kg and R530 000/kg (US$1227 and 1263/oz) and capital expenditure to R3000 million (US$230 million). According to the South African gold producer, these production guidance revisions are mainly a result of operational disruptions following safety-related incidents at Kloof and Driefontein and the power disruption earlier in the year at Beatrix, as well as damage to footwall infrastructure providing access to the western side of the Masakhane mine, following a seismic event on 3 May 2018.
According to Sibanye-Stillwater, following a comprehensive assessment of the damage caused by the seismic event on the western side of the Masakhane mine, a decision has been taken to rehabilitate the footwall infrastructure in order to enable access to this part of the mine. Production from the western side of the Masakhane mine is planned to commence in February 2019, building up to normal production volumes of approximately 170 kg (5466 oz) per month by April 2019. Access to the eastern side of the Masakhane mine was unaffected by the seismic event, and operations in that area which produces approximately 80 kg (2570 oz) per month of gold, resumed on 11 June 2018.
According to Sibanye-Stillwater, resumption of full production of approximately 250 kg (8038 oz) per month from the Masakhane mine in April 2019, should result in annual production from the SA gold operations increasing in 2019. The South Africa PGM operations have maintained their strong performance from 1Q18 and 4E PGM production is likely to be at the upper limit of guidance of between 1.1 million oz and 1.15 million oz, with AISC towards the bottom end of guidance, between R10 750/4Eoz and R11 250/4Eoz (US$825/4Eoz and US$860/4Eoz).
Read the article online at: https://www.globalminingreview.com/exploration-development/03072018/6-reduction-in-sibanye-stillwater-gold-produced-in-sa/
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