Batu Hijau copper, gold production to decline further in 2012
Friday, February 24 2012 - 02:22 AM WIB
US gold and copper giant Newmont Mining Corp. expects to produce 180-201 million pounds of copper and 101-123 kilo ounces of gold from its Batu Hijau mine in West Nusa Tenggara province this year, the company reported on Thursday.
According to Newmont, Batu Hijau produced produced 282 million pounds of copper and 317 kilo ounces of gold in 2011.
2011 copper and gold production decreased 48 percent and 57 percent, respectively, from the prior year due to lower throughput, grade and recovery as a result of processing more stockpiled material, compared to high grade Phase 5 ore in 2010 and mill down time for motor replacements during the second and third quarters of 2011. Waste tons mined increased 135% as Phase 6 waste removal continues as planned. The company expects to process primarily stockpiled ore until Phase 6. Ore becomes the primary mill feed in late 2013.
Newmont has 48.5 percent economic interest in Batu Hijau in 2011 and expects the percentage to decrease to 44.5625 percent in 2012, subject to final divestiture obligation.
Editing by Alexander Ginting