DENVER (Yosefardi) – Newmont Mining Corporation produced 87,000 ounces of attributable gold at Baju Hijau, Indonesia in the second quarter of 2015, compared to 7,000 ounces in the same period of 2014.
While attributable copper produced reached 27,000 tons, against 8,000 tons in the second quarter of 2014.
Newmont said its revenue totaled $1.9 billion in the period compared to $1.8 billion in the second quarter of 2014 primarily due to higher copper production and sales at Batu Hijau that helped offset lower metal prices and asset sales.
During the second quarter of 2015, Batu Hijau mined higher grade ore and operated and shipped at full capacity. The prior year quarter was impacted by a temporary export ban.
Newmont has updated its gold production and cost outlook to include the impact of Long Canyon Phase 1, the pending acquisition of CC&V, and pending sale of Waihi.
Attributable GOLD production is expected to increase from between 4.7 and 5.1 million ounces in 2015 to between 5.2 and 5.5 million ounces by 2017.
In 2015, expected attributable gold production is up 3% from prior guidance primarily due to the inclusion of CC&V as well as improved productivity and mill utilization at Tanami and higher production at Batu Hijau.
Attributable copper production outlook for 2015 is also up roughly 10% from prior guidance due to improved grade and face position at Batu Hijau.