Newcrest reports lower Q4 gold output
Thursday, January 28 2016 - 01:58 AM WIB
ASX-listed Newcrest Mining Ltd said Thursday that gold production at the Gosowong mine on Halmahera Island, North Maluku Province, in the fourth quarter (Q4) of last year declined by 5 percent to 68,702 ounces from 72,253 oz in the previous September quarter.
The company said in a statement this was primarily due to a planned mill shutdown to re-line concentrator SAG mill 1 and concentrator SAG mill 2 during the quarter.
On a year-on-year basis, the Q4 production of 68,702 oz was higher compared to 66,464 oz in the fourth quarter of 2014.
The company said that increase in AISC per ounce was principally driven by lower production and sales than the prior quarter, with sales in the September 2015 quarter particularly elevated due to strong production late in the June 2015 quarter.
Sustaining capital expenditure for the quarter included mine development at Kencana and Toguraci, new loaders and commencement of extension of the tailings storage facility, Newcrest said.
Editing by Reiner Simanjuntak