Newcrest reports gold production from Toguraci mine
Wednesday, April 20 2005 - 04:02 AM WIB
Australian mining firm Newcrest Mining limited reported on Wednesday that its January-March 2005 gold production from its Toguraci mine, which is located in North Maluku province, was 57,361ounces (oz), lower than previous quarter?s production of 61,890oz.
Newcrest said around 57,100 tons of ore was processed at a head grade of 31.84g/t Au with a gold recovery of 98.2 percent in the quarter. Cash cost during the quarter was US$230/oz, with total cost of $259/oz.
Newcrest added that the operation performed according to plan with mining continuing from the Damar and Kayu Manis pits.
It also said development of the Kencana project is scheduled to commence in late May. Kencana project is located adjacent to Toguraci mine.
Newcrest has an 82.5 percent interest and its joint venture partner Aneka Tambang holds the remaining 17.5 percent interest in the Gosowong Province project, where the projects are located. (Robert)