Newcrest reports lower gold output from Halmahera mine

Australian miner Newcrest Mining Limited reported on Thursday that gold production from its mine in Halmahera island, North Maluku lowered to 83,070 ounces during October-December 2006 quarter, from 85,273 ounces in the previous quarter.

The lowered gold production was caused by Toguraci open pit mine, which was completed in October 2006, and output from Toguraci which decreases to only 9,401 ounces from 23,897 ounces in the previous quarter, said the company in a quarterly report.

Toguraci open pit mine produced over 500,000 gold ounces during life of mine, the company added.

Meanwhile, Kencana underground mine during the quarter produces 73,669 ounces of gold, an increase from 61,286 ounces in the previous quarter. And the gold grade mined consistent at 37.14 g/t.

According to the company, further high grade gold intersections recorded at K2 in Kencana mine.

Total cumulative output in 2006 is 384,285 ounces of gold, slightly increases from 379,701 in 2005 output.

Halmahera gold mine is operated by PT Nusa Halmahera Minerals, a joint venture company between Newcrest Mining Limited (82.5 percent) and PT Aneka Tambang (17.5 percent). (denny)