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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 reservesTonnage (000t)Grade (%)Gold
(000oz)
 Classification of reservesTonnage (000t)Grade (%)Gold
(000oz)
Proven    Measured   
Underground2,1382.58177 Underground10,4082.51841
Surface2703.4730 Surface8261.4037
Total2,4082.68207 Total11,2342.43878
         
Probable    Indicated   
Underground 1,7442.50 140 Underground 2,1062.52170
Surface  Surface
Total1,7442.50140 Total2,1062.52170
Total March 20094,1532.60347 Total March 200913,3402.441,048
Total March 20084,1532.60347 Total March 200813,3402.441,048

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