B2Gold's Nicaragua output dips on strike, grades
Gold production at B2Gold's Nicaraguan mines declined 28.4% to 38,484oz in Q1 from the prior year quarter, partly due to a strike and lower grades.
The La Libertad operation produced 25,326oz in the quarter, down from 38,596oz in 1Q14 when output was boosted by higher grade ore from the Crimea and Santa María pits which are no longer active, the Canadian miner said in a production report.
However, output is expected to increase in H2 when higher grade ore production from the Jabalí Antenna and Los Ángeles pits starts. La Libertad is on track to produce 135,000-145,000oz gold in 2015 at cash operating costs of US$605-635/oz.
EL LIMÓN
Production was also down at El Limón to 13,158oz from 15,131oz and below budget, due to a four-day labor dispute primarily over long-term disability benefits, which has been resolved.
The mine will transition to a 100% underground operation in Q2 which will see gold grades steadily improve, B2Gold said.
The mine, which currently has open pit and underground operations, is expected to produce 55,000-65,000oz in 2015 at cash operating costs of US$680-710/oz, an improvement on 2014 when the mine was impacted by delays to the instalation of a dewatering system.
B2Gold, Nicaragua's biggest gold producer, also has mines and projects in Colombia, Namibia, Mali and the Philippines.
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