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African mines drive Nord Gold production increase in first quarter

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(Kitco News) - Nord Gold plc ("Nordgold"), the internationally diversified gold producer, announced today that the company produced 241.1 thousand ounces of gold equivalent, a 7% increase over Q1 2020 (225.9 koz).

The company said that this increase was mainly driven by higher production at the Bissa-Bouly, Lefa and Taborny mines compared with the prior period, which was partially offset by planned production decreases at other Nordgold mines.

Gross mine production declined by 8% to 48.5 koz in Q1 2021 due to planned lower grade and recovery, which was partially offset by a strong improvement in ore mined (+60% YoY) and processed (+30% YoY).

Bissa mine increased production by 59% YoY to 50.1 koz in Q1 2021, mainly as a result of higher grade ore mined at SW pit. Bouly mine production increased by 22% YoY to 23.6 koz in Q1 2021 driven by higher volumes of ore mined and processed in line with the mining plan. Taparko production volumes declined to 20.5 koz due to lower ore grade mined at the 35 pit, which was in line with the mining plan.

In Q1 2021, Lefa production increased by 9% YoY to 44.3 koz driven by higher head grade and recovery, processing high grade ore from the completed Karta Stage 3 and Banko pits, and first ore mining from the CDB pit.

In Q1 2021, Taborny mine production increased by 28% YoY to 16.9 koz (Q1 2020: 13.2 koz), mainly due to planned growth in ore mined and processed volumes, as well as head grade improvement by 36% YoY mainly delivered from the West 2 cutback.

Suzdal mine production decreased by 32% YoY to 11.5 koz in Q1 2021, mainly due to lower volumes of ore processed. Gold production was also impacted by lower recovery due to decreased flotation concentrate mass pull and is expected to normalize from Q2 2021.

Nordgold said it continues to expand its operations in the Gross region (Russia): Phase 1 of the two-year Gross mine expansion project is on track to increase mining and processing capacity to approximately 18 million tonnes of ore per year from Q3 2021 (up from 14.5 million tonnes of ore processed in 2019).

Nordgold is an internationally diversified one-million-ounce gold producer with about 7,800 people operating a portfolio of nine mines (in Burkina Faso, Guinea, Russia and Kazakhstan) and a number of development and exploration projects in West Africa, Eurasia and the Americas.

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