Moab Khotsong & Mponeng high-grade underground delivered improvements
The South African high-grade gold operations, namely Moab Khotsong and Mponeng, delivered improvements in all operating metrics for this reporting period. Recovered grades improved by 6% to 7.53g/t from 7.12g/t in the previous reporting period. This resulted in a 7% increase in production to 10 012kg (321 892oz) from 9 370kg (301 252oz).
Cash operating costs remained largely flat year on year at R681 748/kg (US$1 214/oz). AISC increased by only 1% to R790 492/kg (US$1 408/oz) from R780 338/kg (US$1 609/oz) in 9M FY22.
It is worth highlighting that the Mponeng AISC actually decreased by 7% to R785 880/kg (US$1 400/oz) from R847 203/kg (US$1 747/oz) due to the 13% increase in its underground recovered grades to 8.25g/t from 7.32g/t.
Production at Mponeng also increased 18% to 5 314kg (170 848oz) from 4 502kg (144 742oz) in the previous reporting period.
Operating free cash flows from the high-grade portfolio therefore increased by 88% to R1 986 million (US$114 million) from R1 056 million (US$70 million) in 9M FY22.
South African optimised underground
The optimised underground portfolio consists of Tshepong North, Tshepong South, Joel, Target 1, Masimong, Kusasalethu and Doornkop. These mines continue to perform well and most operations delivered good performances across the key operational metrics year on year.
Gold production from the optimised operations declined by only 2% to 14 839kg (477 085oz) from 15 197kg (488 593oz) in the previous reporting period, excluding Bambanani. Underground recovered grades increased by 6% to 4.87g/t from 4.60g/t.
