Newmont reports lower sales from Batu Hijau mine
Friday, April 21 2006 - 02:06 AM WIB
US giant miner Newmont Mining Corp. reported Wednesday copper and gold sales from Batu Hijau mine in West Nusa Tenggara declined to 80.7 million pounds and 72.8 million ounces in the first quarter of 2006 from 100.1 million pounds and 75.4 million ounces, respectively, in the same period last year.
Newmont said the results were due to reduced mill tons processed, attributable to harder ore, and an increase in concentrate inventory at quarter end.
Newmont also said Batu Hijau had revised its mine plan to address geotechnical instability in the operation's east pit wall.
The company added that consolidated sales for 2006 are now expected to be approximately 472 million pounds of copper and 460,000 ounces of gold or much lower compared to last year?s sales of 572.7 million pounds of copper and 720,500 ounces of gold.
Newmont has 52.88 percent interest in Batu Hijau mine. (Robert)