Rio Tinto's KEM gold production down in Q4 2002
Wednesday, January 22 2003 - 07:30 AM WIB
Anglo-Australian mining giant Rio Tinto Plc said on Wednesday gold production from its East Kalimantan unit PT Kelian Equatorial Mining (KEM) had declined to 121,000 ounces in fourth quarter 2002 compared to 176,000 ounces in third quarter 2002.
During the fourth quarter KEM treated around 1.95 million tons of ore or higher from previous quarter of 1.78 million tons due to increased plant availability but output was down due to a reduction in the percentage of high-grade ore feed direct from the pit.
KEM sold 154,000 ounces of gold and 115,000 ounces of silver during the fourth quarter of 2002.
KEM, owned 90 percent by Rio Tinto, has since 1992 operated a gold mine in Kelian in West Kutai Regency, East Kalimantan. KEM will be winding down its mining activities over the period of 2001-2003 and will close its operations in 2004. (robert)