- Write by:
-
Monday, January 25, 2021 - 12:28:18 PM
-
569 Visit
-
Print
Mining News Pro - Gold Fields and Gold Road Resources have improved the production rates at the Gruyere joint venture (JV) in Western Australia, while flagging the potential for further increases in 2021.
At Gruyere, 2.1 million tonnes of ore was processed while plant throughput was raised after completion of mine to mill optimisation and improvements to the processing circuit.
The company increased its quarterly production from 55,919 ounces in the September 2020 quarter to 70,794 ounces in the December 2020 quarter.
Gold Road expects an increase in plant utilisation to coincide with production improvements.
“Plant utilisation averaged 82 per cent through the quarter (September quarter: 82 per cent). Despite the continued low utilisation, the production rate improved quarter on quarter, highlighting the potential for improvements in production as plant utilisation increases,” the company stated.
The Gruyere JV previously embarked on a renewable energy initiative that will boost plant throughput to 10 million tonnes per annum by commissioning an additional 4-megawatt gas engine, 13-megawatt solar farm and 4.4-megawatt battery energy storage system.
Phase 1 of the initiative will be completed by mid-2021 while phase 2 is expected to be completed by the end of the year.
Gold Road achieved production of 258,173 ounces of gold in the 2020 calendar year, in line with the company’s 250,000 to 270,000-ounce guidance.
Sales for the December quarter reached 34,554 ounces at an average price of $2412 per ounce.
The company is scheduled to an its guidance for the 2021 calendar year in the March quarter.
The Gruyere gold project was discovered by Gold Road in 2013 who entered a JV with Gold Fields in 2013.
It remains one of the largest underdeveloped gold deposits in the country with a mineral resource defined as 148 million tonnes at 1.2 grams per tonne for 6.2 million ounces of gold.
Short Link:
https://www.miningnews.ir/En/News/610186
![China’s central bank paused gold purchases in May after 18 months of buying](/Incsys/Photo.aspx?image=/Uploads/News/20240615005941412.jpg&width=236&height=180)
China’s central bank paused gold purchases to its reserves in May, when spot gold prices hit a record high, after 18 ...
![Gold price falls most in two years on jobs data, China buying pause](/Incsys/Photo.aspx?image=/Uploads/News/20240615003613938.jpeg&width=236&height=180)
Gold fell the most in more than two years as surprise strength in a key US jobs report dashed hopes that the Federal ...
![Global gold ETFs saw first inflows in a year in May, says WGC](/Incsys/Photo.aspx?image=/Uploads/News/20240615001925985.jpg&width=236&height=180)
Global physically backed gold exchange traded funds (ETFs) attracted their first inflows in May after a year, powered by ...
![Opening of new mines boosts Ivory Coast 2023 gold output](/Incsys/Photo.aspx?image=/Uploads/News/20240615001311063.jpg&width=236&height=180)
Ivory Coast’s gold output hit a record high in 2023, helped by the opening of new mines, and will continue to grow ...
![Glencore said to weigh selling stake in Kazakh miner Kazzinc](/Incsys/Photo.aspx?image=/Uploads/News/20240611205715107.jpg&width=236&height=180)
Glencore Plc is considering selling its stake in Kazakh mining company Kazzinc amid interest from potential buyers in ...
![Mali gold mining revenue fell by 26% in 2023](/Incsys/Photo.aspx?image=/Uploads/News/20240611204851913.jpg&width=236&height=180)
State revenue from gold mining companies in Mali fell 26% last year, hit by lower taxes, a document from the west ...
![Gold purchases by central banks were strong in April despite high prices](/Incsys/Photo.aspx?image=/Uploads/News/20240610020735558.jpg&width=236&height=180)
Net purchases of gold by global central banks rose to 33 metric tons in April from a revised net buying of 3 tons in ...
![Probe Gold to raise $11 million for Quebec exploration](/Incsys/Photo.aspx?image=/Uploads/News/20240606201728757.jpg&width=236&height=180)
Probe Gold is looking to raise more than C$15 million ($11 million) via a private placement led by Beacon Securities and ...
![Funds are most bullish on gold in four years as prices hit record](/Incsys/Photo.aspx?image=/Uploads/News/20240528184631198.jpeg&width=236&height=180)
Money managers became the most bullish on gold in more than four years as prices surged to a fresh record earlier this ...
No comments have been posted yet ...