Gold Fields produce less gold at Asanko 

By | 2020-11-16T11:51:27+00:00 November 17th, 2020|

Gold production at Gold Field’s Asanko mine in Ghana decreased by 29% to 49 000 ounces (oz) (100% basis) in the September quarter from 69 000oz (100% basis) in the June quarter mainly due to the lower yield and tonnes milled. Yield decreased by 21% to 1.04g/t in the September quarter from 1.31g/t in the June quarter.

Gold production at Gold Field’s Asanko mine in Ghana decreased by 29% to 49 000 ounces (oz) (100% basis) in the September quarter. Image credit: Gold Fields

Gold production at Gold Field’s Asanko mine in Ghana decreased by 29% to 49 000 ounces (oz) (100% basis) in the September quarter. Image credit: Gold Fields

Total tonnes mined increased by 29% to 12.3Mt in the September quarter from 9.5Mt in the June quarter on the back of increased stripping at the Esaase and Akwasiso pits. Ore tonnes mined decreased by 30% to 1Mt in the September quarter from 1.4Mt in the June quarter. The Nkran Cut 2 west wall failure has forced the team to look for other ore sources and as a result has required the acceleration of stripping activities to expose more ore.

Waste tonnes mined increased by 39% to 11.3Mt in the September quarter from 8.1 Mt in the June quarter due to accelerated stripping of the Esaase main pit to expose ore source from quarter 4.

The accelerated stripping to expose new ore sources has significantly increased costs. The increased stripping together with increased exploration activity has resulted in a 35% increase in all-in cost to USD1760/oz in the September quarter from USD1305/oz in the June quarter.

Sustaining capital expenditure decreased by 31% to USD7-million in the September quarter from USD10.2-million in the June quarter mainly due to timing of expenditure on the TSF raise. Non-sustaining capital expenditure decreased by 3% to USD12.1-million in the September quarter from USD12.5-million in the June quarter due to timing.