Gold mining company Acacia Mining (LON:ACA, DSE:ACA) announced that gold
production from its operating mines in northwestern Tanzania rose by 13%, from
731,912 ounces (oz) in 2015 to 829,705oz in 2016. This was indicated in
Acacia’s recently published production results for Q4 2016; the results also
show that gold production in 2016 is 5% above the original guidance of
750,000-780,000oz for that year.
Acacia notes that the increase in production
was mainly driven by a record production year at the North Mara gold mine and
the highest production year at the Bulyanhulu mine since 2006. Gold production
at North Mara rose by 32%, from 287,188oz in 2015 to 378,443oz in 2016. “This
was as a result of 25% higher head grade driven by the higher contribution from
the Gokona underground mine and a 4% improvement in recoveries,” Acacia
explains. Gold production at Bulyanhulu rose by 6%, from 273,552oz in 2015 to
289,432oz in 2016. Acacia notes that this was mainly driven by an 8% increase
in run-of-mine head grade as underground mining grades improved, and a 3%
increase in recovery. Gold production at Buzwagi, Acacia’s third mine in
Tanzania, decreased by 5% to 161,830oz in 2016 from 171,172oz in 2015. The
decrease was due to a 14% decrease in grade as a result of mining the cut back
with ore primarily sourced from lower grade splay material. Despite that,
Acacia notes that it will extend mining at Buzwagi until the end of 2017, which
will lead to an increase in production compared to 2016. Tanzania Gold Gold
production in Tanzania stands at around 1.8m oz per year which makes it the 4th
largest gold producer in Africa after South Africa, Ghana, and Mali.
Acacia Mining operates three mines in
Tanzania: Bulyanhulu, Buzwagi and North Mara. Bulyanhulu is an underground gold
mine in the Shinyanga region of Northwestern Tanzania, located 55km south of
Lake Victoria. Bulyanhulu commenced commercial production in 2001 and has
produced over 3m oz of gold to date. Total reserves and resources at the
Bulyanhulu gold mine are estimated to be 17.1m oz. Buzwagi is an open pit gold
mine in the Shinyanga region of Northwestern Tanzania, located 6km southeast
from the town of Kahama in Tanzania. Buzwagi commenced commercial production in
2009 and has produced over 1m oz of gold to date. Total gold reserves and
resources at the Buzwagi mine are estimated to be 2.7m oz. North Mara is a
combined open pit and underground gold mine in the Mara Region of Tanzania.
North Mara commenced commercial production in 2002 and has produced over 2m oz
of gold to date. At the North Mara mine, total reserves and resources are
estimated to be 3.8m oz.
Maoni
Chapisha Maoni