Rio Tinto?s KEM records gold production increase in Q4 2001
Thursday, January 24 2002 - 01:49 AM WIB
Anglo-Australian giant miner Rio Tinto announced on Wednesday that gold production from its
East Kalimantan based subsidiary PT Kelian Equatorial Mining (KEM) was 123,000 ounces, significantly higher than previous year corresponding quarter production of 98,000 ounces.
The company said that during the fourth quarter 2001, dry weather provided full access to the mining area and mill availability was above average.
Full year gold production in 2001 was 34 percent higher than in 2000. Silver sales were suspended until Indonesian taxation issues are resolved. Rio Tinto has 90 percent stake in KEM.
The mine is scheduled to be closed down in 2004. (Alex)