Boost efficiency to boost mining output
The composite index which consists of diamonds carats, uranium, gold bullion and zinc concentrate and contained registered a growth of 20.1% in July 2021.
PHILLEPUS UUSIKU
For the month July 2021, gold bullion production improved significantly on a monthly basis, recording a positive growth rate of 71.7% compared to a 2.9% growth recorded in June 2021. On an annual basis, gold production increased by 18.3%, upward, when compared to a reduction of 28.8% recorded in June 2021.
According to the Namibia Statistics Agency (NSA), the production of gold bullion stood at 620 kg compared to 361 kg and 524 kg registered in June 2021 and July 2020, respectively.
The increase recorded on monthly basis in the production of gold bullion was attributed to high-grade ore mined and the expansion of operation by one mining entity, motivated by the need to ensure economies of scale, NSA pointed out.
Economies of scale are cost advantages companies experience when production becomes efficient, as costs can be spread over a larger amount of goods.
In addition, the diamond production index month-on-month recorded a growth of 14.0% in July 2021 compared to a marginal growth of 0.4% recorded in the previous month. On an annual basis, diamond production index increased by 11.6%.
The volume of diamonds produced stood at 135 237 carats. Whereas in June 2021, the production stood at 118 638 carats, while 121 130 carats were produced in July 2020.
The increase registered monthly in the production of diamond carats was mainly driven by high global demand during the period under review, NSA said.
Uranium
Furthermore, the uranium production index increased on a monthly basis registering a growth of 8.3% in July 2021, compared to a reduction of 24.1% recorded in the preceding month. On annual basis, Uranium production recorded a growth of 21.6%.
The increase recorded in the production of uranium on monthly basis was mainly attributed to high-grade ore mined. This was enabled by the sufficient availability of water needed to mine and process uranium minerals efficiently during the review period.
In the month of July 2021, the production of uranium stood at 518 tons compared to 478 tons and 426 tons produced in June 2021 and July 2020, respectively.
Lastly, zinc concentrate and contained production index declined on a monthly basis by 4.4% during the period under review, from a reduction of 3.9% posted in the preceding month. On annual basis, zinc concentrate declined by 2.8%., NSA added.
The decline recorded in the production of zinc concentrate and contained on monthly basis was mainly attributed to low-grade ore mined for the period under review.
During the period under review, 6 938 tons of zinc concentrate and contained were produced compared to 7 258 tons and 7 139 tons of zinc concentrate and contained produced in June 2021 and July 2020, respectively.
Overall, the composite index which consists of diamonds carats, uranium, gold bullion and zinc concentrate and contained registered a growth of 20.1% in July 2021, an improvement when compared to a decline of 5.5% recorded in the preceding month. Annually, the index recorded a growth rate of 13.9% for the period under review, NSA said.
For the month July 2021, gold bullion production improved significantly on a monthly basis, recording a positive growth rate of 71.7% compared to a 2.9% growth recorded in June 2021. On an annual basis, gold production increased by 18.3%, upward, when compared to a reduction of 28.8% recorded in June 2021.
According to the Namibia Statistics Agency (NSA), the production of gold bullion stood at 620 kg compared to 361 kg and 524 kg registered in June 2021 and July 2020, respectively.
The increase recorded on monthly basis in the production of gold bullion was attributed to high-grade ore mined and the expansion of operation by one mining entity, motivated by the need to ensure economies of scale, NSA pointed out.
Economies of scale are cost advantages companies experience when production becomes efficient, as costs can be spread over a larger amount of goods.
In addition, the diamond production index month-on-month recorded a growth of 14.0% in July 2021 compared to a marginal growth of 0.4% recorded in the previous month. On an annual basis, diamond production index increased by 11.6%.
The volume of diamonds produced stood at 135 237 carats. Whereas in June 2021, the production stood at 118 638 carats, while 121 130 carats were produced in July 2020.
The increase registered monthly in the production of diamond carats was mainly driven by high global demand during the period under review, NSA said.
Uranium
Furthermore, the uranium production index increased on a monthly basis registering a growth of 8.3% in July 2021, compared to a reduction of 24.1% recorded in the preceding month. On annual basis, Uranium production recorded a growth of 21.6%.
The increase recorded in the production of uranium on monthly basis was mainly attributed to high-grade ore mined. This was enabled by the sufficient availability of water needed to mine and process uranium minerals efficiently during the review period.
In the month of July 2021, the production of uranium stood at 518 tons compared to 478 tons and 426 tons produced in June 2021 and July 2020, respectively.
Lastly, zinc concentrate and contained production index declined on a monthly basis by 4.4% during the period under review, from a reduction of 3.9% posted in the preceding month. On annual basis, zinc concentrate declined by 2.8%., NSA added.
The decline recorded in the production of zinc concentrate and contained on monthly basis was mainly attributed to low-grade ore mined for the period under review.
During the period under review, 6 938 tons of zinc concentrate and contained were produced compared to 7 258 tons and 7 139 tons of zinc concentrate and contained produced in June 2021 and July 2020, respectively.
Overall, the composite index which consists of diamonds carats, uranium, gold bullion and zinc concentrate and contained registered a growth of 20.1% in July 2021, an improvement when compared to a decline of 5.5% recorded in the preceding month. Annually, the index recorded a growth rate of 13.9% for the period under review, NSA said.
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