AUSTRALIAN gold miner St Barbara has lowered its production target to 370,000-400,000oz for the financial year ending June 2020, from 380,000-420,000oz for the period previously.
Gold production for the Australian-listed miner slipped to 94,000oz in the quarter period ended December 2019, from 112,000oz in the corresponding October to December 2018 period.
All-in sustaining cash costs for St Barbara rose to $1364/oz in the December 2019-ended quarter, compared with $1053/oz in the December 2018-ended quarter.
The miner is forecasting its all-in cash costs for gold production for the 2020 financial year will range from $1330/oz to $1420/oz, compared with its previous forecast of $1240/oz to $1330/oz.
At the company’s flagship Gwalia mine at Leonora in WA, gold production was 42,000oz in the October to December 2019 quarter, down from 53,300oz in the October to December 2018 quarter.
St Barbara said current ventilation constraints which have impacted mining operations at Gwalia underground mine are expected to be resolved with the completion of an underground shaft section in April.
Additional surface fans have been installed to increase airflow into the underground mine.
At St Barbara’s Simberi Island mine in Papua New Guinea, production of gold was 23,000oz in the December 2019-ended quarter at an all-in cash cost of $1850/oz, compared with 36,000oz and $1146/oz, respectively, for the December 2018-ended quarter period.
Gold production at Simberi Island mine was lower and cash costs higher in the recent quarter due to a decline in the mine’s milled grade.
