Newmont?s copper output down in Batu Hijau

Denver-based mining giant Newmont Mining Corporation said Wednesday its equity copper production from the Batu Hijau copper and gold mining complex in West Nusa Tenggara reached 85.33 million pounds in the second quarter of 2003, slightly down from 86.08 million pounds in last year?s corresponding quarter.

Despite the declining production, Batu Hijau recorded an improvement in net cash costs.

?Batu Hijau in Indonesia had another impressive quarter. Net cash costs were $0.21 per pound, a 32 percent reduction from the year ago quarter, driven by significantly higher gold by-product credits, lower treatment and refining charges and continuing favorable grade reconciliations,? it said in its quarterly report.

Batu Hijau?s total copper production in the second quarter of 2003 was 151,706 million pounds, versus 153,041 million pounds in the previous year's corresponding period.

Newmont recorded equity sales of 91.19 million pounds of copper and 91.9 thousand ounces of gold in the second quarter of the year.

Newmont operates the Batu Hijau through its 56.25 percent-owned unit, PT Newmont Nusa Tenggara. (robert)