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RioZim sees improved gold output across mines |


By Alois Vinga


DIVERSIFIED mining group, RioZim Limited has recorded significant increases in gold output at its productive mines amid plans to counter the impending power cuts going into the future.

Presenting the third quarter trading update this week, the top miner said at Cam & Motor Mine, 166kg of gold was produced which was a 14% increase from 146kg recorded in the same period last year, mainly driven by an increased milling throughput.

The miner said the significant capital expenditure interventions on the crushing plant positively impacted plant performance resulting in the recorded improved milling throughput.

Dalny Mine remained under full care and maintenance throughout the quarter while Renco Mine produced 141kg of gold in the current period; a 12% increase in gold production from 126kg achieved in the same period in 2022.

“This was due to improved power supply to the mine which enabled upscaling of milling throughput as well as plant availability at near optimal levels,” the company said.

The Empress Nickel Refinery (ENR) remained under care and maintenance throughout the quarter.

“However, the diamonds business unit experienced plant breakdowns, mainly on the heavy mobile equipment, which negatively affected plant throughput resulting in a slump in diamond production.

“100 000 carats were produced in Q3, 2023; a 12% reduction from 130 000 carats produced in Q3, 2022. The Mine’s key focus remains to stabilise its support equipment to enable consistent processing of high volumes as per the new 500TPH plant design,” said RioZim.

In the outlook, the company said despite improved power supply during the period, the unreliable provision of power remains a significant risk to the Company.

The miner anticipates that power challenges will be exacerbated by the onset of the rainy season expected in the last quarter of the year.

“In order to mitigate the impact of power outages, the Company invested in backup generators across its mines. However, these come with high production costs due to excessively high levels of fuel consumption,” the company added.

 





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