Shanta Gold output rises 31 per cent

East Africa-focused miner Shanta Gold yesterday unveiled a 31 per cent increase in gold production in the third quarter compared to the second quarter and said it is on track to deliver its full-year output target. The Aim-listed company also said that its New Luika gold mine is operating well and it is considering extending the life of the mine. “[Increased production], supported by our debt restructuring and cost reduction initiatives, has given the company a solid platform to not only ride out the current volatile gold market but also drive returns for shareholders,” said chief executive Mike Houston.