Newcrest's Gosowong mine produces 23,859 ounces of gold in Jul-Dec 2002

Australian gold miner Newcrest Mining Limited announced on Thursday that gold production from its mine in Gosowong, Maluku province, during the July ? December period of 2002 extremely down to 23,859 ounces (oz), from 79,196 oz in the January ? June period output due to reserve depletion.

The company said its production in the first six-month period was managed at an average cash cost of A$529 per ounce and a total cost of $526 per ounce.

?Production continued from the low grade stockpiles with this campaign expected to be complete as planned by June,? Newcrest said in a statement.

Newcrest is still struggling to get permission from Indonesian government to mine deposit at Toguraci pit, which is located in a protected forest area. The deposit area is close to its current mining location.

The company further said the planned meeting in December 2002 with the House Representative (DPR) had been postponed.

Unless given permission, Newcrest will have to close its current Gosowong mine this year due to reserve depletion. (robert)