Newcrest reports higher output from Gosowong mine
Thursday, April 23 2015 - 12:54 AM WIB
ASX-listed Newcrest Mining Limited reported on Thursday that its Gosowong mine in Halmahera, North Maluku produced 75,312 ounces of gold in Junuary-March quarter of this year, 13 percent higher than production in the previous quarter.
The company said in a statement that this was due to 14 percent higher head grade which was partially offset by a 3 percent reduction in tons milled.
It added that Gosowong?s USD AISC per ounce was 14 percent lower than the previous quarter due to higher gold grades and lower sustaining capital.
Late in the March 2015 quarter, the Toguraci mine experienced a fall of ground which will impact the first month of the June 2015 quarter, Newcrest said.
?It is expected that Gosowong?s full year production will be around the lower end of guidance,? it added.
Editing by Reiner Simanjuntak