Gold production at Martabe exceeded 2013 target
Monday, January 6 2014 - 07:14 AM WIB
Hong Kong-listed G-Resources Group Limited announced on Monday that its Martabe mine has exceeded gold production guidance for 2013.
In 2013, the Martabe mine produced 281,478 ounces gold exceeding the 280,000 ounce target and well over the mine and plant operating design of 250,000 ounces per annum. In addition, Martabe produced 1,515,228 ounces silver, with the last 3 months of the year producing at an annualized rate of over 1.8 million ounces per annum.
The Board of G-Resources is delighted with the production figures at Martabe and the great performance of the whole team. The preliminary results of the first full year's operation confirm Martabe's position as a leading gold mine.
Martabe, with a resource base of 8.2 million ounces of gold and 75.3 million ounces of silver, is G-Resources Group?s core starter asset. Martabe operating capacity is to mine and mill the equivalent of 4.5 mtpa ore to produce some 250,000 ounces gold and 2 million ounces silver per annum. Costs are competitive when compared to global gold producers.
Editing by Johannes Simbolon