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167 ounces ahead of schedule.
In an exploration update for the third quarter released on Tuesday Mwana Africa said the gold mine produced a total of 13 686 ounces of fine gold during the three months to September 30, which translates to an average monthly production of 4 562 ounces.

The monthly gold production target was thus met three months ahead of schedule, well in excess of the firm’s Phase II target of 4 167 ounces per month by year end.
The 13 686 ounces (equivalent to an annualised rate of 54 720 ounces per year) exceeded the Phase II target annualised production rate of 50 000 ounces.
Mwana Africa said it was continuing to engage the Government on the issue of indigenisation and management remained optimistic that this will be resolved.
According to Mwana Africa, underground expansion at Freda Rebecca has progressed well and has achieved the level of performance necessary to sustain the Phase II production volumes.

In addition, the work has enabled access to an additional production block. This has had a positive impact on tonnage generation and in sustaining planned mill feed grade, said the miner.
Mwana Africa chief executive Mr Kalaa Mpinga said he was pleased with the progress at Freda Rebecca, but the company would continue to focus on ramping up operational efficiency at the mine.
“I am delighted with the progress at Freda Rebecca in particular, where the Phase II production target was reached well ahead of schedule.

“This success is a result of the commitment and dedication of our management team.
“Our next objective at Freda Rebecca is to focus on operating efficiency and reliability while seeking to optimise plant performance,” he said.
Freda Rebecca resumed production in 2009 after being put on care and maintenance as the country for much of the last decade.

Management implemented a two-phased expansion programme after the inclusive Government made a raft of policy changes to boost mining productivity, at a time that saw prices on the world market for the mineral firming.

Meanwhile, Mwana Africa reports that Bindura Nickel Corporation’s (Trojan Mine) assets remained on care and maintenance for the latest quarter, as the company seeks funding for re-starting operations. Last month, BNC shareholders approved a convertible loan facility of US$10m to be provided by Mwana Africa, whose loan element has been approved by the Reserve Bank of Zimbabwe.
It is anticipated that Mwana Africa will be able to exercise the convertible element of the facility only upon a further specific approval by the Reserve Bank of Zimbabwe and the Ministry of Youth Development,

Indigenisation and Empowerment.
The facility allows Mwana to provide funds for the ongoing working capital requirements at BNC.

The Trojan Mine remains ready to resume production, with all the processes up to the tertiary crushers having been hot commissioned in the prior financial year.
Limited development and drilling continues to be undertaken at Trojan.
The mine hoisted 1 982 tonnes of waste and 3 541 tonnes of ore during the quarter as part of its care and maintenance programme.

Total underground development during the care and maintenance programme stood at approximately 1 045 metres at the end of last month.