Newcrest reports lower gold production from Gosowong
Wednesday, April 23 2014 - 04:12 AM WIB
By Alexander Ginting
Australian mining firm Newcrest Mining Limited reported on Wednesday that its Gosowong mine in Halmahera, North Maluku produced 71,000 ounces of gold in Junuary-March 2014 quarter, 10% lower than previous quarter?s production.
The company attributed the lower production to lower grade ore processed.
The company also reported that cost reduction was successful at Gosowong, as all-in sustaining costs for the quarter was reduced by 16% to US$846 per ounce.