Newmont to boost Batu Hijau copper, gold sales
Wednesday, January 28 2009 - 12:41 AM WIB
The company said it a release that the company aimed to sell 225,000-250,000 ounces of equity gold and 210-230 million pounds of equity copper in 2009.
Newmont has 45 percent equity in NNT, which runs Indonesia?s second biggest copper and gold mine in Batu Hijau, Sumbawa island, West Nusa Tenggara.
The company also reported that it would spend US$45-55 million equity capital expenditure on Batu Hijau, lower than $84 million actual investment it made last year.(denny)
2009 Operating Outlook:
| Region | 2008 Outlook | 2008 Actual | 2009 Outlook | |||
| Equity Sales (Kozs, Mlbs) | CAS ($/oz, ($/lb) | Equity Sales (Kozs, Mlbs) | CAS ($/oz, $/lb) | Equity Sales (Kozs, Mlbs) | ?CAS(1) ($/oz,$/lb) | |
| Batu Hijau - Gold | 100 - 130 | $360 - $400 | 135 | $414 | 225 - 250 | $240 - $260 |
| Batu Hijau - Copper | 125 - 150 | $1.50 - $1.75 | 130 | $1.38 | 210 - 230 | $0.65 - $0.75 |
(1) The Company's 2009 costs applicable to sales outlook assumes an average spot oil price of $70 per barrel and an Australian dollar exchange rate of 0.75. |
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2009 Capital Expenditures Outlook:
| Region ($M) | 2008 Outlook | 2008 Actual | 2009 Outlook |
| Batu Hijau | $80 - $120 | $84 | $45 - $55 |