Blanket Mine production up

BLANKET Mine recorded a 6,5% growth in gold production to 22 064 ounces in the first half of the year despite the fall in international mineral prices during the period.

OWN CORRESPONDENT

The growth was helped by a rebound in production in the second quarter of the year as production rose by 10,7% to 11 592 ounces.
The company said it was anticipating production to almost double to 40 000 ounces by end of this year.

Another gold mine Freda Rebecca, in the same period, sold a total of 14 716 ounces of gold while operating costs decreased by 5,7%.

In  a statement, the company said cash costs decreased to $883 per ounce from the previous figures of $1 021, while recoveries during  the period improved from 75% to 81%.

Experts say apprehensive investors are holding off expansion and further exploration activities in Zimbabwe due to uncertainty surrounding the coming elections and policy inconsistencies.

However, the country’s gold sector has remained largely unscathed by the falling price of the metal, as Zimbabwe is said to have low production costs.

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