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August 2015
MODERN MINING
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MINING News
limited processing of material from vari-
ous larger size fractions throughout the
later part of the period. The initial pro-
cessing of larger size fractions during the
commissioning of the upgrades provided
the company with important insight into
the processing of this material, its impact
on the processing of other sized material,
and the combined impact on operational
efficiencies overall.
Diamcor says its focus will now shift
to increasing processing volumes, the
size fractions of material being processed
(with consideration for above larger
material cut-off size), and a move towards
advancing objectives consistent with
the recommendations of the updated
NI43‑101 Technical Report filed by the
company in April this year.
The Krone-Endora at Venetia project
is located directly adjacent to De Beers’
flagship Venetia mine, and the associated
deposits have been identified as being
the result of the direct-shift and erosion
of material from the higher grounds of the
adjacent Venetia kimberlite areas.
Mwana Africa’s profits deteriorate sharply
Mwana Africa, which operates mines in
Zimbabwe, has announced improved con-
solidated revenue of US$152,3 million for
the financial year to 31 March 2015. It says
this was achieved even though the year pre-
sented particular challenges of falling gold
and nickel prices, challenges that have per-
sisted beyond the end of the financial year.
Consolidated profits deteriorated
sharply with a number of operational set-
backs that contributed to higher unit costs.
The group’s net profit fell to US$7,0 million
from the preceding year’s US$50,6 mil-
lion, although there was a US$28 million
impairment reversal in the prior year, which
contributed to higher profits.
At the Freda Rebecca gold mine, pro-
duction stagnated as a result of equipment
failures that needed to be addressed and
improvements that were effected on an ad
hoc basis.
These technical problems were par-
alleled at Bindura Nickel’s Trojan mine
where a large part of the mine’s equipment
had been allowed to deteriorate during
the period of care and maintenance and
needed to be progressively refurbished and
replaced throughout the year.
The planned re-start of Bindura Nickel’s
smelter was initiated during the past year at
a budgeted cost of US$22million, with inter-
nal financing augmented by the issue of a
US$20 million five-year bond. The smelter
will have the capacity to process Trojan’s
own concentrates and to toll-treat outsiders’
concentrates to produce nickel leach alloy.
The bond will be serviced from revenues
enhanced by the smelter’s operations.
In South Africa, while the recovery
of diamonds at the Klipspringer residue
treatment joint venture reached planned
capacity, this was less than anticipated.
Consideration is now being given to the
reprocessing of coarser tailings and to an
eventual reopening of underground opera-
tions on the mine’s Leopard fissure.