Newcrest sees lower gold output, sales from Gosowong mine
Tuesday, January 31 2017 - 09:09 AM WIB
ASX-listed Newcrest Mining Ltd projected lower gold output and sales this year from the Gosowong mine on Halmahera Island, North Maluku Province.
Newcrest said in a statement on Tuesday that gold output is projected to reach 122,680 ounces this, 13 percent lower compared to 140,954 ounces last year.
Meanwhile, sales volume this year is targeted to reach 106,078 ounces, down compared to 164,134 ounces last year.
Gold output in the fourth quarter ending December stood at 64,991 ounces, while sales reached 50,408 ounces.
?Production at Gosowong increased in the December quarter due to higher mill throughput partially offset by lower grade. Ore production was 19 percent higher as a result of a planned reduction in development activity in Kencana and recommencement of previously suspended areas in Toguraci which resulted in increased stoping activity,? Newcrest said in a statement unveiling its fourth quarter operating performance.
AISC per ounce in the December quarter decreased 17 percent primarily as a result of the operations returning to normal following the suspension of mining in the prior year.
Editing by Reiner Simanjuntak