Newmont Q3 copper, gold output decrease
Friday, October 28 2011 - 01:54 AM WIB
US mining giant Newmont Mining Corp. reported on Thursday that copper and gold production from its Batu Hijau mine in Sumbawa island, West Nusa Tenggara decreased 40% and 37% respectively in the third quarter of 2011 compared to the same period of 2010.
The decrease is caused by lower mill grade, throughput and recovery as a result of processing more stockpiled material compared to higher grade Phase 5 ore in 2010 and the completion of mill motor replacements, the company said in statement. Waste tons mined increased 104% as Phase 6 waste removal continues as planned, it said.
Gold and copper production during the second quarter was 66,000 ounces and 41 million pounds, respectively.
The company expects to produce 140,000 to 160,000 ounces of gold and copper production is expected to be approximately 120 to 140 million pounds in 2011. (romel)