Newcrest reports lower gold production from Halmahera mine
Wednesday, April 26 2006 - 12:37 AM WIB
Australian mining firm Newcrest Mining Limited reported on Wednesday that January-March 2006 gold production from its Toguraci mine in Halmahera Island, Maluku was 49,730 ounces, lower than previous quarter?s production of 53,489 ounces.
The company sad the production decline was due toa combination of bad weather, a pit wall failure and unexpected high recharge of hot water from the pit.
The company said Toguraci pit would reach the end of mine life with some 30,000 ounces of gold remaining to be mined by June 30, 2006.
The mining would then move to nearby Kencana underground mine, which had been 71 percent completed by the end of March.
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). (alex)