Newcrest?s Gosowong gold production down in Q2 2002

Australian gold miner Newcrest Mining Limited on Monday reported a 26, 886 oz gold production from its Gosowong Mine in Halmahera island, North Maluku province during April-June quarter, significantly lower than previous quarter?s production of 52, 310 oz.

The company said the decline in production had been fully anticipated as it started to process lower grade ore. During the second quarter of this year, the company processed 102,000 tons ore at a grade of 8.34g/t Au with a recovery of 95 percent.

The company said mining in the Gosowong pit was completed with site numbers reduced for the low-grade production period. 400,000 tons of lower grade material is stockpiled and available for treatment and production is expected to be approximately 13,5000 oz in the September quarter.

Newcrest holds 82.5 percent equity in PT. Nusa Halmahera Minerals, the operator of the Halmahera gold mine, while state miner PT Aneka Tambang Tbk holds the remaining 17.5 percent.(alex/robert)