Modern Mining August 2015

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.

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. 

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

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