Kusasalethu

  • JSE: R184.30 -0.32%
  • NYSE:$9.77 +3.28%
  • GOLD:$2 701/oz 0.00%
  • GOLD:R1 624 752/kg -0.21%
  • USD:ZARR18.71 -0.23%
  • At 10:54am, 18 Jan 2025

Overview

Kusasalethu is a mature, deep-level mine, 90km west of Johannesburg, near the Gauteng North-West provincial border.

Mine infrastructure comprises twin vertical and twin sub-vertical shaft systems. Conventional mining methods are used in a sequential grid layout with mining depths reaching 3 388m below surface where the Ventersdorp Contact Reef is the primary orebody exploited. Ore mined is treated at the Mponeng plant.

As at 30 June 2024

  • Gold Resource: 3.1Moz
  • Gold Reserve: 0.4Moz
  • LoM: 3 years

Operating statistics FY24

Production

3 842kg / 123 523oz

Grade

6.58g/t

Workforce

3 968

All-in sustaining cost

US$1 761/oz

Operating performance FY24

Kusasalethu ended FY24 with a strong performance increasing gold production by 11% to 3 842kg (123 523oz) from 3 460kg (111 242oz) in FY23. The increase in production was mainly due to an improvement in the recovered grade to 6.58g/t for FY24 (FY23: 6.10g/t) supported by a consistent delivery of ore milled. Volumes of ore milled increased to 584 000 tonnes in the year under review, 3.0% higher than the 567 000 tonnes for FY23.

Gold revenue increased 28% for FY24 to R4 638 million (FY23: R3 621 million) owing to the increase in production but also a higher gold price. The average gold price received rose 17% to R1 222 101/kg in FY24 from R1 040 274/kg for the previous year.

Cash operating costs were 12% higher at R3 709 million (FY23: R3 311 million), mainly due to annual wage and electricity tariff increases as well as MPRDA royalties. Royalties increased 140% to R72 million (FY23: R30 million). Capital expenditure decreased 11% to R226 million (FY23: R253 million), mainly for ongoing development. Operating free cash flow for FY24 rose to R704 million, reflecting the improved production results.

Our focus area in FY25

Safety remains the top priority for Kusasalethu with continued focus on exploration to firm up the orebody for future development into these areas.

ESG statistics

Lost-time injury frequency rate

9.89 per million hours worked (FY23: 7.71)

Water intensity (/tonne treated)

5.17Ml (FY23: 4.82Ml)

Energy intensity (/tonne treated)

0.93GWh (FY23: 1.04GWh)

GHG intensity
(/tonne treated)

0.93t CO2e (FY23:1.09t CO2e)

Local economic development

R12m (FY23: R25m)

SLP

Kusasalethu SLP 2018 -2022 (English)
Kusasalethu SLP 2018 – 2022 (SeTswana)

Kusasalethu

Tel: 018 782 9348

Elandsrand Dr, Carletonville, 2500,
Gauteng, South Africa