@BusinessDaily

Narok-based gold miner to close old plant in expansion

1 months ago, 23 Maý 16:40

By: Brian Ngugi

Narok-based gold miner operated by UK’s Goldplat says it will close one of its original plants at its Kilimapesa mine in Narok, following the successful installation and subsequent second-stage expansion of a new processing factory.

Goldplat chief executive Gerard Kisbey-Green said the new plant, which is processing around 5,000 tonnes a month, is now established enough that Goldplat can continue running the plant as its sole facility.

“This will have a positive effect on profitability and help ensure we operate a more robust operation moving forward,” Mr Kisbey-Green said in a statement.

He said the fine material currently being processed through its incumbent plant will be sent to plant two, where it will be directly processed, bypassing the milling process, and increasing throughput with an overall improvement in the margin per ounce recovered.

Because of the closure, Goldplat said there would be an initial reduction in production during the last quarter, which would result in below 5,000 ounces output. However, it added, the changes would be reflected in the results for the quarter due to the lower production costs per ounce at its second plant.

Further cost savings will also be achieved through the restructuring of labour, although the closure of the plant will not result in a significant reduction in employees as they will be re-assigned to other positions at new factory and at the mine where possible.

The previously reported planned stage three expansion at its second plant will be undertaken on a modular basis, as and when finances allow, it added.

The multinational has invested more than Sh30 million to increase production in its Kenyan operations over the past two years, signalling confidence about its prospects.


Read More


Category: business news lifestyle economy markets opinion corporate

Suggested

13 hours ago, 00:05
@StandardMedia - By: Patrick Alushula
Once profitable firms battle to survive under crushing debts

Once profitable firms in Kenya fighting to survive under crushing debts. ...

Category: business news
13 hours ago, 00:05
@StandardMedia - By: Emily Kamunde-osor ...
Why the HR function remains key to business success

As renowned scholar and thought leader Dave Ulrich says the human resources (HR) function begins with business and ends with business. ...

Category: business news
13 hours ago, 00:05
@StandardMedia - By: Boniface Gikandi
Tea farmers in Murang’a County narrate tribulations to senators

Tea farmers in Murang’a want the government to write off their loans, even as they recounted their suffering to senators. ...

Category: business news
13 hours ago, 00:05
@StandardMedia - By: Wangui Mwaniki And ...
Why we need more than tax incentives to spur economic growth

The four priority areas are manufacturing, universal health coverage, affordable housing and food and nutrition security. ...

Category: business news
13 hours ago, 00:05
@StandardMedia - By: Macharia Kamau
Bill proposes radical changes in tea sector, restore KTDA as industry regulator

KTDA could revert to its old status as the industry regulator while a raft of levies charged on players along the value chain dropped. ...

Category: business news
36 minutes
@BusinessDaily - By: Barack Oduor
Leaders oppose former MP’s Sony Sugar appointment

Leaders have opposed the appointment of former MP Owino Likowa to head the South Nyanza Sugar Company Board. ...

Category: business lifestyle news

@BusinessDaily

Narok-based gold miner to close old plant in expansion

1 months ago, 23 Maý 16:40

By: Brian Ngugi

Narok-based gold miner operated by UK’s Goldplat says it will close one of its original plants at its Kilimapesa mine in Narok, following the successful installation and subsequent second-stage expansion of a new processing factory.

Goldplat chief executive Gerard Kisbey-Green said the new plant, which is processing around 5,000 tonnes a month, is now established enough that Goldplat can continue running the plant as its sole facility.

“This will have a positive effect on profitability and help ensure we operate a more robust operation moving forward,” Mr Kisbey-Green said in a statement.

He said the fine material currently being processed through its incumbent plant will be sent to plant two, where it will be directly processed, bypassing the milling process, and increasing throughput with an overall improvement in the margin per ounce recovered.

Because of the closure, Goldplat said there would be an initial reduction in production during the last quarter, which would result in below 5,000 ounces output. However, it added, the changes would be reflected in the results for the quarter due to the lower production costs per ounce at its second plant.

Further cost savings will also be achieved through the restructuring of labour, although the closure of the plant will not result in a significant reduction in employees as they will be re-assigned to other positions at new factory and at the mine where possible.

The previously reported planned stage three expansion at its second plant will be undertaken on a modular basis, as and when finances allow, it added.

The multinational has invested more than Sh30 million to increase production in its Kenyan operations over the past two years, signalling confidence about its prospects.


Read More

Category: business news lifestyle economy markets opinion corporate

Suggested

13 hours ago, 00:05
@StandardMedia - By: Patrick Alushula
Once profitable firms battle to survive under crushing debts

Once profitable firms in Kenya fighting to survive under crushing debts. ...

Category: business news
13 hours ago, 00:05
@StandardMedia - By: Emily Kamunde-osor ...
Why the HR function remains key to business success

As renowned scholar and thought leader Dave Ulrich says the human resources (HR) function begins with business and ends with business. ...

Category: business news
13 hours ago, 00:05
@StandardMedia - By: Boniface Gikandi
Tea farmers in Murang’a County narrate tribulations to senators

Tea farmers in Murang’a want the government to write off their loans, even as they recounted their suffering to senators. ...

Category: business news
13 hours ago, 00:05
@StandardMedia - By: Wangui Mwaniki And ...
Why we need more than tax incentives to spur economic growth

The four priority areas are manufacturing, universal health coverage, affordable housing and food and nutrition security. ...

Category: business news
13 hours ago, 00:05
@StandardMedia - By: Macharia Kamau
Bill proposes radical changes in tea sector, restore KTDA as industry regulator

KTDA could revert to its old status as the industry regulator while a raft of levies charged on players along the value chain dropped. ...

Category: business news
36 minutes
@BusinessDaily - By: Barack Oduor
Leaders oppose former MP’s Sony Sugar appointment

Leaders have opposed the appointment of former MP Owino Likowa to head the South Nyanza Sugar Company Board. ...

Category: business lifestyle news
Our App