Newcrest reports record gold production from North Maluku mine

Australian mining firm Newcrest Mining Limited reported on Tuesday that April-June quarter gold production from its Gosowong mine in Halmahera Island, North Maluku, reached 101,253 ounces, 29 percent higher than previous quarter?s production of 78,211 ounces.

The company said record gold production was achieved during the quarter due to a significant uplift in the grade of ore mined underground

Cumulative annual production until the end of June has reached 347, 807 ounces, the company said in its quarterly report released Tuesday. June quarter cash cost was US$238 per ounce, while total costs reached $301.

The company said that during the quarter, a pre-feasibility study was commissioned to identify the optimal strategy for extensions to the existing Kencana underground mine.

Newcrest has 82.5 percent stake in the Halmahera mine. (alex)