Newmont Q2 copper, gold output drop
Saturday, July 30 2011 - 01:47 AM WIB
US mining giant Newmont Mining Corp. reported on Friday that copper and gold production from its Batu Hijau mine in Sumbawa island, West Nusa Tenggara decreased 70% and 56% respectively in the second quarter of 2011 compared to the same period of 2010.
The decrease is caused by lower grade of ore and throughput and recovery as a result of processing stockpiled material as expected, compared to mining high grade Phase 5 ore in the second quarter of 2010. Waste tons mined doubled as Phase 6 waste removal continues as planned.
The Company expects Phase 6 ore to become the primary ore feed commencing in late 2013.
Gold and copper production during the second quarter was 26,000 ounces and 28 million pounds, respectively.
The company expects to produce 110,000 to 140,000 ounces of gold and copper production is expected to be approximately 120 to 140 million pounds in 2011. (denny)