Newcrest's gold output declines
Tuesday, April 23 2013 - 06:49 AM WIB
ASX-listed Newcrest Mining reported its Gosowong?s March 2013 quarter performance was 58,502 ounces of gold at a cash cost of A$806 per ounce compared with December 2012 quarter performance of 80,223 ounces of gold at a cash cost of A$653 per ounce.
The company said in quarterly report on Tuesday that gold production declined 27% compared with the December 2012 quarter due to a 27% reduction in head grade.
The decrease was caused by limited access to high grade stopes in the Kencana underground mine during the quarter which was reestablished at the end of March 2013.
A new cutback design for the Gosowong pit was completed in February 2013 following highwall failures in the December 2012 quarter.
It said that in line with the updated plan, waste stripping resumed in February 2013.
Editing by Adianto P. Simamora