Newcrest: Mine production resumed at Toguraci, Kencana remains suspended
Tuesday, April 12 2016 - 02:51 AM WIB
ASX-listed Newcrest Mining Ltd said that mining activities recommenced Tuesday at the Toguraci mine, part of the Gosowong operation located in Halmahera Island, North Maluku Province.
The company said in a statement that since the geotechnical event at Kencana mine, also in Gosowong, on February 8, 2016, mining at Gosowong has been suspended. During the period of suspension, technical studies and rehabilitation work have been undertaken at both Toguraci and Kencana and some low grade stockpiled material has been processed.
?The rate of mining at Toguraci will gradually increase over time, with full production from Toguraci not expected for at least two months,? the statement said.
?Mining at Kencana remains suspended. Technical studies in relation to Kencana are well advanced but yet to be completed,? it added.
Production and cost guidance for Gosowong for the 2016 financial year will be updated after recovery and resumption plans have been completed, the company said.
Gosowong is owned and operated by PT Nusa Halmahera Minerals (PTNHM), an Indonesian company 75 per cent owned by Newcrest, which holds contract of work that is valid until 2029.
In the financial year ending 30 June 2015, Gosowong produced 331,555 ounces of gold and 410,970 ounces of silver. Since mine operations commenced in 1999, over four million ounces of gold and three million ounces of silver have been produced.
Editing by Reiner Simanjuntak