Newmont?s Batu Hijau recorded gold, copper output decrease in Q3
Friday, November 2 2012 - 01:45 AM WIB
Newmont Mining Corporation reported that gold and copper production during the third quarter at Batu Hijau in Indonesia decreased 89 percent and 54 percent respectively due to processing lower grade stockpile ore.
The company?s quarterly report says gold and copper production was 7,000 ounces and 19 million pounds, respectively, at the cost applicable to sale (CAS) of $1,115 per ounce and $2.38 per pound, respectively.
It said that the waste tons mined increased 57% from the prior year quarter as Phase 6 waste removal continued as planned. CAS increased 134% per ounce and 164% per pound, respectively, due to lower production and higher waste mining costs.
?The Company is maintaining its outlook for 2012 attributable gold production of between 30,000 and 40,000 ounces of gold at a higher CAS of between $955 and $985 per ounce, due to higher waste mining costs,? it said.
Editing by Adianto P. Simamora