Galane revenues fall on softer gold prices

Mupane Gold Mine
Mupane Gold Mine

Softer commodity prices have seen the country’s sole gold producer Galane Gold recording decreased revenue from $40.5 million that was recorded in December 2014 to $26.2 million registered in December last year.

According to the group’s chief executive officer (CEO) Nick Brodie, the financial results for 2015 reflect the challenging gold price environment that has affected all gold producers during the past year.

“Gold sales for 2015 were 7,548 ounces less than in 2014. This was coupled with a reduction in the average gold price achieved between the two years of $126 per ounce. As a result revenue was $14.0 million less in 2015,” said Brodie.

Editor's Comment
Prosecutors deserve better

These legal professionals, who are entrusted with upholding the rule of law, face numerous challenges that compromise their ability to effectively carry out their duties.Elsewhere in this edition, we carry a story on the lamentations of the officers of court.The prosecutors have raised a number of concerns, calling for urgent attention from all relevant stakeholders, including the President, Minister of Justice and the Attorney General. Their...

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