KEM gold output rises in Q3
Saturday, October 28 2000 - 05:00 AM WIB
Gold mining company PT Kelian Equatorial Mining (KEM) in the Kelian area, Kutai, East Kalimantan, a 90 percent subsidiary of Anglo-Australian mining giant Rio Tinto, recorded a gold output of 103,000 ounces for the third quarter of the year, up from 61,000 ounces in the second quarter of the year.
The gold production was however lower compared to the 1999 third quarter figure of 123,000 ounces.
The third quarter output brought the company's combined gold production to 240,000 ounces in the first nine months of the year, representing a decrease from 327,000 ounces in the first nine months of last year.
Rio Tinto, in its consolidated financial statement obtained by Petromindo. Com, said gold production was higher in the third quarter of the year, compared to production in the previous quarters of the year, due to the absence of any major production interruptions.
"Previous quarters of the year were adversely affected by industrial action (first quarter) and community actions through roadblocks halting critical supplies to the minesite (second quarter)," the company said.
Gold sales rose to 102,000 ounces in the third quarter of the year, from 53,000 ounces in the second quarter of the year. But, it was lower compared to the third quarter of the year, when the company sold 115,000 ounces.
Total gold sales for the first nine months of the year were 232,000 ounces, as against 326,000 ounces in the first nine months of last year.
Silver production rose to 90,000 ounces in the third quarter of the year, as against 87,000 ounces in the same period of last year and 55,000 ounces in the second quarter of the year.
Total silver output for the first nine months of the year was 232,000 ounces, as against 326,000 ounces in the first nine months of last year.
Silver sales rose to 100,000 ounces in the third quarter of the year, as against 90,000 ounces in the third quarter of last year and zero in the second quarter of the year.
Total silver sales for the first nine months of the year decreased to 180,000 ounces from 299,000 ounces in the first nine months of last year.
Ore processed totaled 1.91 million tons in the third quarter of the year, up from 1.9 tons from the third quarter of last year and 1.04 million tons in the second quarter of the year. (Bodega)