Browsing: Peter Geleta

Acacia Mining Plc has registered a 13 per cent fall in gold production for the first quarter of 2019, attributing the decline to lower output at its North Mara and Buzwagi mines.

The company`s Interim CEO, Peter Geleta said in a statement accompanying the quarterly report that gold production stood at 104,889 ounces , with ounces sold for the quarter standing at 104,985 ounces and in line with production.

Production in the first quarter was affected by unanticipated production issues at North Mara, which produced 66,324 ounces of gold for the quarter, cited as a 14 per cent year-on-year decrease.

The lower output was mainly driven by the consequence of a fall of ground in the Gokona underground mine in December, as well as an excavator breakdown in the Nyabirama open pit.

The fall of ground at Gokona prevented access in the quarter to two higher-grade stopes in the east, …