TRX Gold (TSX:TNX, NYSE-A:TRX) Corporation touted commercial production this month at its over 1,000 ton-per-day (tpd) processing plant at the Buckreef Gold Mine in Tanzania.
The Toronto-based company, which is rapidly advancing the Buckreef Gold project, said the declaration of commercial production for the East African plant comes after “successful construction, commissioning, and ramp-up of processing to a steady state throughput of 1,000+ tons per day."
“The processing plant has now been running consistently at or above nameplate capacity since October 2022 with gold recoveries exceeding 90%,” said the company.
READ: TRX Gold boosts Buckreef throughput capacity nearly three times higher to 1,000 tons per day
All major construction activities have been completed and Buckreef Gold has demonstrated its ability to sustain ongoing production levels. The mine will seek opportunities to boost efficiencies and increase throughput with the goal of exceeding design nameplate capacities, said TRX.
The company highlighted the following:
- Construction, commissioning, and ramp-up of the 1,000+ tpd processing facility was completed on schedule and to budget;
- Throughout construction, safety has been crucial and the site management team thanked the workforce for making safety their priority;
- Gold production in October exceeded budget with 2,200 ounces of gold poured during the month. This was 22% above TRX’s own production blueprint; and
- Gold recoveries in October exceeded the budget and were 91.1%, against a company plan of 90%.
TRX Gold (TSX:TNX, NYSE-A:TRX) CEO Stephen Mullowney said that the company's East African operation had achieved a “remarkable milestone.”
“During the last 12 months, the Buckreef Gold team has delivered excellence in safety and built not only a great 1,000+ tpd processing plant but also a track record for achievement — this is the second successful build during this period. While we celebrate this goal, we are also ready to advance the growth of the business with improvement initiatives, exploration, and ever-increasing production.”
Mullowney noted that TRX Gold and the Buckreef Gold team are currently evaluating a potential further near-term expansion of the processing plant.
“Let’s keep growing!” Mullowney exhorted.
Tanzania is the fourth-largest gold producer in Africa after South Africa, Ghana, and Mali and accounted for 1.3% of the total global gold production in 2021.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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