Aurora says Indo Muro's Q3 gold output 'better than expected'
Thursday, September 28 2000 - 04:00 AM WIB
Australian mining firm Aurora Gold said the gold output of its subsidiary PT Indo Muro Kencana (IMK) in Central Kalimantan for the third quarter of the year would be better than expected.
"We are going to have a very good quarter, because we have access to all of our pits. We've got some very good production coming out this quarter," Aurora's chief operating officer in Indonesia Joe Ariti told Petromindo.Com in an interview.
However, Ariti declined to reveal the number, saying Aurora had first to report to the Australian Stock Exchange on the output's figure on Oct 5 before making public announcement.
He further said the third quarter production would compensate for output decrease, which earlier occurred because of illegal mining activities.
Thousands of illegal miners occupied parts of IMK's concession for about one year, putting troubles on the company's operation.
IMK's bullion output target for this year stands at 240,000 ounces.
Aurora's recent press release says IMK produced 117,604 ounces of gold in the first half of the year well below the target of 60,000 ounces per quarter.
"This third quarter production (will) put our production target for the year back on track," Ariti said. (alex)