Newcrest plans to produce 450,000 oz of gold from Halmahera mine

Australian mining firm Newcrest Mining Limited has set a target to produce around 450,000 ounces of gold at its Gosowong mine on Halmahera Island, North Maluku this year, a company official told Petromindo.Com recently.

Colin Moorhead, the company?s executive GM minerals said that the gold would be sourced from its Kencana underground mine and Toguraci open-pit mine, adding that this year the company would spend around US$20 million for exploration.

Last year, the company?s gold output reached 478,069 ounces.

Gosowong mine is run by PT Nusa Halmahera Minerals, a joint venture between Newcrest (82.5 percent) and PT Aneka Tambang (17.5 percent). (denny)