PAPUA NEW GUINEA
Hidden Valley (50%)
| FY14 | FY13 | FY12 | |
|---|---|---|---|
| No of employees | |||
| – Permanent employees (100%) | 1 213 | 1 107 | 1 035 |
| – Contractors (100%) | 767 | 996 | 1 690 |
| Total | 1 980 | 2 013 | 2 725 |
| Operational | |||
| Volumes milled (000t) | 2 001 | 1 844 | 1 766 |
| Gold produced (kg) | 3 292 | 2 644 | 2 762 |
| Gold produced (oz) | 105 840 | 85 007 | 88 800 |
| Grade (g/t) | 1.65 | 1.43 | 1.56 |
| Productivity (g/TEC) | 277 | 219 | 169 |
| Financial | |||
| Revenue (Rm) | 1 434 | 1 189 | 1 163 |
| Average gold price received (R/kg) | 433 488 | 453 482 | 418 806 |
| Production profit/(loss) (Rm) | 344 | 44 | 299 |
| Capital expenditure (Rm) | 122 | 506 | 296 |
| Cash operating cost (R/kg) | 329 943 | 434 796 | 313 930 |
| All-in sustaining cost (R/kg) | 415 068 | 775 866 | 491 843 |
| Safety | |||
| No of fatalities | 0 | 0 | 0 |
| Lost-time injury frequency rate per million hours worked | 0.00 | 0.19 | 0.62 |
| Environmental | |||
| Electricity consumption (GWh) | 42 | 40 | 45 |
| Water consumption – primary activities (ML) | 768 | 699 | 505 |
| greenhouse gas emissions (000t CO2e) | 0 | 0 | 0 |
| Intensity data per tonne treated | |||
| – energy | 0.02 | 0.02 | 0.03 |
| – water | 0.38 | 0.38 | 0.28 |
| – greenhouse gas emissions | 0 | 0 | 0 |
| Number of reportable environmental incidents | 1 | 0 | 0 |
| Community | |||
| Local economic development (Rm) | 5 | 14 | 14.1 |
| Training and development (Rm) | 19 | 11 | 1.7 |
Restructuring and rationalisation of the Hidden Valley operation resulted in an increase in production along with the desired reduction in all-in sustaining costs to less than US$1 200/oz.
The overland conveyor’s performance improved significantly during the year. Commissioning of the upgraded crusher system was completed by the end of the year’s first half with a consequent further improvement in throughput and mill-feed reliability, all of which contributed to improved production for the year. Cash operating costs and all-in sustaining costs remain within group targets and were reduced progressively through the year. Management’s focus remains on sustaining ore mining and processing, increasing waste mining and reducing costs.