Newmont reports soaring output from Batu Hijau mine
Tuesday, April 28 2015 - 03:24 AM WIB
US-based Newmont Mining Corp said that gold production at its Batu Hijau mine on Sumbawa Island, West Nusa Tenggara Province, surged by 568.75 percent to 107 ounces in the first quarter of this year from 16 ounces in the corresponding period of last year.
The mine, operated by Indonesian subsidiary PT Newmont Nusa Tenggara, saw copper output jumped by 127 percent to 109 million pounds in the first three months of this year compared to 48 million pounds in the same quarter of last year.
Newmont reported that revenue totaled US$2.0 billion compared to $1.8 billion in the first quarter of 2014 due primarily to higher copper production and sales at Batu Hijau.
During the first quarter of 2015, Batu Hijau operated and shipped at full capacity, whereas the prior year quarter was impacted by the temporary export ban introduced by the Indonesian government in January of 2014, the company said. Newmont Nusa Tenggara resumed export in September of last year after meeting a number of requirements set by the government.
Editing by Reiner Simanjuntak