INVESTORS AND MEDIA In the news
Joint venture (JV) partners Gold Road Resources and Gold Fields have experienced an interruption to production at the Gruyere gold mine in Western Australia.
The interruption was caused by a ball mill motor bearing failure upon the restart of the Gruyere processing facility following a scheduled maintenance shutdown.
Production was impacted for seven days to include this shutdown, until processing operations resumed on Thursday (September 24).
A specialist team was mobilised to site to determine the root cause of the failure and take rectification measures.
Gold Road now expects all-in sustaining costs (AISC) for its attributable share of production to peak in this quarter to $1540–$1590.
The company anticipates production to fall to 53,000–57,000 ounces in the September quarter due to the bearing failure and additional plant downtime early in the quarter.
The JV required the additional downtime to configure Gruyere's milling circuit and maintain throughput rates as the operation transitions to fresh rock processing.
Gold Road revised its production guidance for this year to 250,000–270,000 ounces, down from 250,000–280,000 ounces.
The company's attributable AISC guidance for the year has also increased from $1150–$1250 to $1250–$1350.