Freda Rebecca Mine
- Full name:
- Freda Rebecca Mine (FRM)
- Mwana interest:
- In April 2005, Mwana Africa purchased 100% interest in FRM from AngloGold Ashanti Limited for US$2.5 million, with an obligation to sell 15% to a local investor. Mwana Africa's share in financial year 2009 remains 100%.
- Geology and history:
- The gold mine is situated near the town of Bindura, some 90km north-east of Harare. As a low-grade underground operation, the mine is highly geared to the gold price. FRM has suffered from the low revenue receipts in Zimbabwe's hyperinflationary environment. Mwana Africa also owns exploration licences around the operation.
- Following introduction of a number of proactive economic policies in early 2009 by the new government in Zimbabwe, including the dollarization of the economy, the revision of export procedures for gold and permission to operate foreign currency accounts, Mwana Africa announced its
intention to resume gold production at the Freda Rebecca Mine in March 2009.
- The company is implementing a two-phase programme to bring the mine back into production.
- Current status and prospects:
- Mwana Africa has engaged contractors covering geotechnical, mining, and plant aspects of the project, and is assembling an on-site owner’s team. Dewatering of the Rebecca section of the mine has been completed. A budget of approximately £4m has been allocated to bring the mines and the first phase of the plant to production. The commencement of production from Phase I is currently scheduled for the end of September 2009. A similar amount is forecast to be required to complete the second phase of the refurbishment, scheduled for completion in September 2010.
Reserves and Resources
Freda Rebecca Mine – Resources and Reserves as at 31 March 2009
| Classification of reserves | Tonnage (000t) | Grade (%) | Gold
(000oz) | | Classification of reserves | Tonnage (000t) | Grade (%) | Gold
(000oz) |
|---|
| Proven | | | | | Measured | | | |
|---|
| Underground | 2,138 | 2.58 | 177 | | Underground | 10,408 | 2.51 | 841 |
| Surface | 270 | 3.47 | 30 | | Surface | 826 | 1.40 | 37 |
| Total | 2,408 | 2.68 | 207 | | Total | 11,234 | 2.43 | 878 |
| | | | | | | | | |
| Probable | | | | | Indicated | | | |
|---|
| Underground | 1,744 | 2.50 |
140 | | Underground | 2,106 | 2.52 | 170 |
| Surface | – | – | – | | Surface |
– | – | – |
| Total | 1,744 | 2.50 | 140 | | Total | 2,106 | 2.52 | 170 |
| Total March 2009 | 4,153 | 2.60 | 347 | | Total March 2009 | 13,340 | 2.44 | 1,048 |
| Total March 2008 | 4,153 | 2.60 | 347 | | Total March 2008 | 13,340 | 2.44 | 1,048 |
Note:
- Resources are stated inclusive of reserves
- Underground resources are quoted at a 1.5g/t cut off, and surface resources are calculated at a 0.4g/t cut off.
- A revised mine plan will be developed, based on the optimisation of the resource model at prevailing commodity prices. Updated statements of reserves and resources will be provided as and when available. Further information on the Freda Rebecca mine can be found in the Independent Technical Report dated June 2007. (PDF - 3.74MB)
