Newcrest's Gosowong gold output down 53% in July-Sep. quarter

Australian gold miner Newcrest Mining Limited announced on Monday that gold production from its mine in Gosowong, Maluku province in July-September quarter of 2002 was lower, as planned, to 12,116 ounces (oz) or approximately 53 percent down compared to April-June quarter's production of 25,886 oz.

Newcrest said it processed 102,000 tons of ore at a grade of 3.96 g/t Au with a recovery of 93 percent.

The production for the December quarter from Gosowong is expected to be steady at approximately 12,000 oz, the company said.

Newcrest further said the exploration in Gosowong district continued in the Seksekel area, but drilling to date had failed to record any significant mineralisation.

Newcrest said it had also suspended the exploration at Togoraci until permitting issue is resolved.

Newcrest said it had met twice with the House of Representative (DPR) to progress legislative changes to remove the overlapping laws preventing commencement of mining the Toguraci pit.

"We are expected to meet (with DPR) again in November," Newcrest in a statement.

Newcrest holds 82.5 percent equity in PT Nusa Halmahera Mineral, which runs the gold mine, while state miner PT Aneka Tambang Tbk, holds the remaining 17.5 percent. (robert)