On 15th November 2022, TRX Gold Corporation (TSX:TNX) (NYSE American:TRX) reported its declaration of commercial production of the 1,000+ tonnes per day (tpd) processing plant at the Buckreef Gold Mine in north-central Tanzania.
The declaration of commercial production was made after successful construction, commissioning, and ramp-up of processing to a steady state throughput of 1,000+ tpd.
TRX explains that the processing plant has been running consistently at or above nameplate capacity since October 2022 with gold recoveries exceeding budget with 2,200 ounces of gold poured during the month (22% above plan).
Stephen Mullowney, CEO of TRX commented: “The Board, Executive Management and I are very excited to have reached this remarkable milestone in the Company’s history. During the last 12 months, the Buckreef Gold team has delivered excellence in safety and built not only a great 1,000+ tpd processing plant but also a track record for achievement. While we celebrate this goal, we are also ready to advance the growth of the business with improvement initiatives, exploration, and ever-increasing production. TRX Gold and Buckreef Gold are currently evaluating a potential further near-term expansion of the processing plant.”
Tanzania is the 4th largest gold producer in Africa after South Africa, Ghana, and Mali and accounts for 1.3% of the total global gold production.
Tanzania’s gold reserves are estimated at about 45 million ounces and Tanzania’s gold production in Tanzania stands at around 50t per year.