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Sibanye Gold Ltd. (NYSE:SBGL) announced yesterday that its economically extractable gold mineral reserves have risen to 19.73 million ounces, an increase of 46 percent. The increase will “significantly enhance and extend” the company’s life-of-mine production profile.
Sibanye Gold Ltd. (NYSE:SBGL) announced yesterday that its economically extractable gold mineral reserves have risen to 19.73 million ounces, an increase of 46 percent. The increase will “significantly enhance and extend” the company’s life-of-mine production profile.
As quoted in the press release:
The Mineral Resources and Mineral Reserves, have been revised taking into account, inter alia, lower operating costs, improved efficiencies and improved mining quality factors at its operations. This follows significant restructuring and the implementation of a new operating model.
Highlights include:
- Capex maintained at approximately R3-R3.5 billion per annum.
- Successful results from the economic and technical assessment of previously unmined areas.
- A maiden gold and uranium Mineral Resource declared at Beisa Reef Section at the Beatrix West Section.
- Positive results from the pre-feasibility study on the West Rand Tailings Retreatment Project and the Driefontein 1 Shaft Pillar extraction project.
Click here to read the full Sibanye Gold Ltd. (NYSE:SBGL) press release.