Newcrest reports lower gold output from Gosowong mine

By Romel S. Gurky

ASX-listed Newcrest Mining Ltd said on Monday that gold production at Gosowong mine on Halmahera Island, North Maluku Province, in the June quarter decreased by 14 percent to 80,035 oz from 93,161 oz in the May quarter due to lower head grade at both Kencana and Toguraci.

The company said in a statement that this was partially offset by higher throughput as a result of increased ore production, an outcome driven by Edge initiatives, and access to an additional level in Toguraci.

?Waste mining increased due to access development within both Kencana and Toguraci,? the statement said. The company said that sales in the June quarter fell to 70,210 oz from 98,720 oz in the May quarter.

AISC per ounce in the June quarter increased by $160 per ounce, primarily as a result of lower head grades and higher sustaining capital expenditure on a per ounce sold basis (in absolute dollar terms, sustaining capital expenditure was only marginally higher).

Editing by Reiner Simanjuntak