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Friday, 20th January 2006 (4436 views)

Uranium One has restarted production of gold at its Bonanza operations centre in South Africa, according to Mining Weekly.

The JSE and Toronto stock exchange listed sxr was forced to suspend operations following a fault in its machinery used to crush ore.

It is reported that there was a malfunction on one of the bearings for the primary crusher, which is used to break up raw materials.

However, the bearing has now been replaced at apparent minimal cost and production has been resumed.

Nearl Froneman, CEO and president of the company, said: "Mining operations at Bonanza South have continued throughout the period of the repair, and we also used the time for other important maintenance work.

"While there was a short term disruption, there will not be any long term impact on gold production, as there is spare capacity in the plant, enabling us to catch up speedily on production."

Gold miners welcomed news on Thursday that gold futures rose again to a 25-year high after a drop earlier in the week.

Tuesday saw gold perform at its highest level for a quarter of a century reaching a value of $565 an ounce (£320).

 

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