Newcrest?s Gosowong production decreases 39% in Q3
Thursday, October 18 2012 - 03:10 AM WIB
ASX-listed gold company Newcrest Mining reported it?s Gosowong project produced 81,090 ounces of gold at a cash cost of A$551 per ounce in the third quarter this year compared to 133,233 ounces at a cash cost of A$380 per ounce on June.
It said that the gold production was 39% lower than the previous quarter due to the combination of planned lower grades and unexpectedly by poor ground conditions impeding access in the September 2012 quarter.
Mill throughput and gold recoveries were consistent with the previous quarter. Mining continued in the Kencana and Toguraci underground mines and in the Gosowong open pit cutback.
The company said that the increased unit cash costs reflected the lower gold production and an increased proportion of gold production sourced from the open pit operation.
Editing by Adianto P. Simamora