NMR's gold output reaches 281,000 ounces until October
Thursday, November 23 2000 - 04:00 AM WIB
Gold mining company PT Newmont Minahasa Raya (NMR) in North Sulawesi produced a total gold output of 281,000 ounces until the end of October this year, the company said on Tuesday.
The company's General Superintendent Production Mawan Rosmawan told Petromindo.com in Ratatotok this year's production target was 350,000 ounces.
NMR said it would stop mining activities at its gold mine in Minahasa, North Sulawesi in 2001 but it would continue operation there until 2003 to process the remaining gold ore.
"We'll stop mining gold ore by the end of 2001 but we'll continue producing concentrate until mid-2003," Mawan said.
He further said the output target for 2001, 2002 and 2003 would be 341,000 ounces, 138,000 ounces and 50,000 ounces respectively.
The company, which currently operates a 500-hectare gold mine in Minahasa, started production in 1996. (Alex/godang)