Newmont reports lower gold, copper production at Batu Hijau mine
Friday, February 22 2013 - 02:45 AM WIB
US mining giant Newmont Mining Corp said that attributable gold and copper production at its Batu Hijau mine in Indonesia in the fourth quarter of last year decreased by 56 percent and 33 percent, respectively, from the prior year quarter due to lower grade and recovery as a result of processing lower grade stockpiled material.
The company said in a statement obtained Friday that attributable gold production was 7,000 and 33,000 ounces in the fourth quarter and 2012, respectively.
Attributable copper production was 16 million and 76 million pounds in the fourth quarter and 2012, respectively.
The company, which did not provide comparable 2011 full-year figures, said 2012 attributable gold and copper production decreased 78 percent and 42 percent, respectively, due to lower grade and recovery as a result of processing primarily lower grade stockpiled material.
Waste tons mined increased 26 percent as Phase 6 waste removal continued as planned. The company expects to process primarily stockpiled ore until Phase 6 ore becomes the primary mill feed in 2014.
Newmont said 2013 attributable gold production for Batu Hijau is expected to be approximately 20,000 to 30,000 ounces, while attributable copper production is expected to be approximately 75 to 90 million pounds.
Newmont expects to continue processing stockpiled ore until Phase 6 ore becomes the primary mill feed commencing in 2014.
Attributable Proven, Probable, and Combined Gold Reserves
| Deposits/Districts | Newmont Share | December 31, 2012 | December 31, 2011 | |||||||||||
| Proven Reserves | Probable Reserves | Proven + Probable Reserves | Proven + Probable Reserve | |||||||||||
| Tonnage (000 tons) | Grade (Cu%) | Gold (000 ozs) | Tonnage (000 tons) | Grade (Cu%) | Gold (000 ozs) | Tonnage (000 tons) | Grade (Cu%) | Gold (000 ozs) | Metallurgical Recovery | Tonnage (000 tons) | Grade (Cu%) | Gold (000 ozs) | ||
| Batu Hijau Open Pit(9) | 48.50% | 131,100 | 0.017 | 2,170 | 166,600 | 0.006 | 940 | 297,900 | 0.010 | 3,110 | 76% | 323,700 | 0.010 | 3,150 |
| Batu Hijau Stockpiles(4)(5)(9) | 48.50% | 0 | 0 | 140,600 | 0.003 | 440 | 140,600 | 0.003 | 440 | 70% | 156,900 | 0.003 | 490 | |
| Total Batu Hijau | 48.50% | 131,100 | 0.017 | 2,170 | 307,200 | 0.004 | 1,380 | 438,500 | 0.008 | 3,550 | 76% | 480,600 | 0.008 | 3,640 |
| (4) Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where tonnage or contained ounces are greater than 5% of the total site-reported reserves and contained ounces are greater than 100,000. (5) Project is under development. (9) Percentage reflects Newmont's economic interest as of December 31, 2012. | ||||||||||||||
Attributable Gold Mineral Resources
| Deposits/Districts | Newmont Share | December 31, 2012 | December 31, 2011 | ||||||||||
| Gold Measured Resource | Gold Indicated Resource | Gold Measured + Indicated Resource | Gold Inferred Resource | ||||||||||
| Tonnage (x1000 tons) | Grade (oz/ton) | Au (x1000 ozs) | Tonnage (x1000 tons) | Grade (oz/ton) | Au (x1000 ozs) | Tonnage (x1000 tons) | Grade (oz/ton) | Au (x1000 ozs) | Tonnage (x1000 tons) | Grade (oz/ton) | Au (x1000 ozs) | ||
| Batu Hijau(7) | 48.50% | 8,100 | 0.018 | 150 | 141,300 | 0.007 | 1,040 | 149,400 | 0.008 | 1,190 | 27,600 | 0.002 | 50 |
| (7) Percentage reflects Newmont's economic interest at December 31, 2012. | |||||||||||||
Attributable Copper Reserves
| Deposits/Districts | Newmont Share | December 31, 2012 | December 31, 2011 | |||||||||||
| Proven Reserves | Probable Reserves | Proven + Probable Reserves | Proven + Probable Reserve | |||||||||||
| Tonnage (x1000 tons) | Grade (oz/ton) | Au (x1000 ozs) | Tonnage (x1000 tons) | Grade (oz/ton) | Au (x1000 ozs) | Tonnage (x1000 tons) | Grade (oz/ton) | Au (x1000 ozs) | Metallurgical Recovery | Tonnage (x1000 tons) | Grade (oz/ton) | Au (x1000 ozs) | ||
| Batu Hijau(4) | 48.50% | 131,300 | 0.51% | 1,340 | 166,600 | 0.36% | 1,220 | 297,900 | 0.43% | 2,560 | 75% | 323,700 | 0.41% | 2,670 |
| Batu Hijau, Stockpiles(4)(5) | 48.50% | 0 | 0 | 140,600 | 0.33% | 940 | 140,600 | 0.33% | 940 | 59% | 156,900 | 0.34% | 1,060 | |
| Batu Hijau | 48.50% | 131,300 | 0.51% | 1,340 | 307,200 | 0.35% | 2,160 | 438,500 | 0.40% | 3,500 | 71% | 480,600 | 0.39% | 3,730 |
| (4) Percentage reflects Newmont's economic interest at December 31, 2012. (5) Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material. Stockpiles increase or decrease depending on current mine plans. Stockpiles are reported separately where tonnage or contained metal are greater than 5% of the total site reported reserves. | ||||||||||||||
Attributable Copper Mineral Resources
| Deposits/Districts | Newmont Share | December 31, 2012 | December 31, 2011 | ||||||||||
| Gold Measured Resource | Gold Indicated Resource | Gold Measured + Indicated Resource | Gold Inferred Resource | ||||||||||
| Tonnage (x1000 tons) | Grade (oz/ton) | Au (x1000 ozs) | Tonnage (x1000 tons) | Grade (oz/ton) | Au (x1000 ozs) | Tonnage (x1000 tons) | Grade (oz/ton) | Au (x1000 ozs) | Tonnage (x1000 tons) | Grade (oz/ton) | Au (x1000 ozs) | ||
| Batu Hijau(3) | 48.50% | 8,100 | 0.37% | 60 | 141,300 | 0.34% | 970 | 149,400 | 0.34% | 1,030 | 27,600 | 0.27% | 150 |
| (3) Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where tonnage or contained ounces are greater than 5% of the total site-reported reserves and contained ounces are greater than 100,000. | |||||||||||||
Attributable Proven, Probable, and Combined Silver Reserves(1)
| Deposits/Districts | Newmont Share | December 31, 2012 | December 31, 2011 | |||||||||||
| Proven Reserves | Probable Reserves | Proven + Probable Reserves | Proven + Probable Reserve | |||||||||||
| Tonnage (000 tons) | Grade (Cu%) | Gold (000 ozs) | Tonnage (000 tons) | Grade (Cu%) | Gold (000 ozs) | Tonnage (000 tons) | Grade (Cu%) | Gold (000 ozs) | Metallurgical Recovery | Tonnage (000 tons) | Grade (Cu%) | Gold (000 ozs) | ||
| Batu Hijau Open Pit(4) | 48.50% | 131,300 | 0.047 | 6,120 | 166,600 | 0.024 | 3,980 | 297,900 | 0.034 | 10,100 | 78% | 323,700 | 0.032 | 10,410 |
Batu Hijau Stockpiles(3)(4) |
48.50% | 0 | 0 | 140,600 | 0.015 | 2,140 | 140,600 | 0.015 | 2,140 | 72% | 156,900 | 0.015 | 2,430 | |
| Total Batu Hijau | 48.50% | 131,300 | 0.047 | 6,120 | 307,200 | 0.020 | 6,120 | 438,500 | 0.028 | 12,240 | 77% | 480,600 | 0.027 | 12,840 |
| (3) Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where tonnage or contained ounces are greater than 5% of the total site-reported reserves and contained ounces are greater than 100,000. (4) Percentage reflects Newmont's economic interest at December 31, 2012. | ||||||||||||||
Attributable Silver Mineral Resources
| Deposits/Districts | Newmont Share | December 31, 2012 | December 31, 2011 | ||||||||||
| Gold Measured Resource | Gold Indicated Resource | Gold Measured + Indicated Resource | Gold Inferred Resource | ||||||||||
| Tonnage (x1000 tons) | Grade (oz/ton) | Au (x1000 ozs) | Tonnage (x1000 tons) | Grade (oz/ton) | Au (x1000 ozs) | Tonnage (x1000 tons) | Grade (oz/ton) | Au (x1000 ozs) | Tonnage (x1000 tons) | Grade (oz/ton) | Au (x1000 ozs) | ||
| Batu Hijau(5) | 48.50% | 8,100 | 0.038 | 300 | 141,300 | 0.027 | 3,700 | 149,400 | 0.027 | 4,000 | 27,600 | 0.016 | 400 |
| (5) Percentage reflects Newmont's economic interest at December 31, 2012 | |||||||||||||
Editing by Reiner Simanjuntak