Rio forecasts a 50pct surge in FY gold production

Rio forecasts a 50pct surge in FY gold production

HARARE, June 24 (The Source) – Local resources group RioZim says improved capacity at its mines will this year drive up gold production by as much as 50 percent.

In 2015, the group achieved a full year production of 1, 2 tonnes (42,328 ounces) from its two mines Cam & Motor near Kadoma and Renco in Masvingo.

In just eight months of production Cam & Motor produced 450 kilogrammes (15,873oz). It reopened in April last year after it was shut down in 1968.

“Renco is performing better than prior period due to the work we have done on it in terms of capacitating the mine. It is now in full production. The first half of 2016 has also seen full production at Cam & Motor. Come year end it would have operated for a full year so we are anticipating that we will come out 50 percent or so better than 2015,” chief executive Noah Matimba told journalists on Thursday.