Resolute Mining hits ‘turning point’ as production spikes

Resolute Mining's Syama underground operation in Mali.

Resolute Mining’s growth ambitions at its gold operations in West Africa and Australia remain on target.

The company’s gold output increased by 33 per cent to 73,691 ounces in the December quarter.

Resolute’s Syama gold mine in Mali was the key contributor to the improved production.

The site was up more than 50 per cent in production to 56,207 ounces during the quarter, including 34,653 ounces from Syama oxide operations and 21,554 ounces from Syama sulphide operations.

Resolute also launched sublevel cave ore production from the Syama underground mine in December 2018, which will lead to further increases in output from the site’s sulphide operations.

At the Ravenswood mine in Queensland, Resolute production remained consistent in the December quarter at 17,484 ounces.

Resolute managing director John Welborn described the quarter as a turning point for the company.

“Production from Syama and Ravenswood is now on track and the commencement of sublevel caving at our Syama underground mine will provide further enhancements as we commission the world’s fully automated underground mine,” Welborn said.

“Resolute is now ready to prioritise growth and take bold steps in 2019, including listing on the London Stock Exchange.”

Resolute has partnered with Sandvik to establish Syama as an automated underground operation.