DENVER (Yosefardi) – Newmont Mining Corporation reported its attributable gold and copper production at Batu Hijau, Indonesia, jumped 276% and 51%, respectively, in fourth quarter of 2014.
Newmont produced 21 thousand ounces of gold production and 15,100 pounds of copper production in fourth quarter of last year.
For full year 2014, Newmont’s gold production in Indonesia grew by 61% to 37 thousand ounces while copper production declined 3% to 34,400 pounds.
Newmont said its Asia Pacific production is expected to remain stable at between 1.8 and 2.0 million ounces from 2015 through 2017. Productivity improvements at Tanami and higher grades at Batu Hijau offset production declines at Waihi as the mine nears the end of its current reserve life. Potential development of the Tanami Expansion project represents additional upside.
Attributable copper production is expected to be between 130,000 and 160,000 tonnes in 2015 and level out to between 115,000 and 135,000 tonnes in 2016 and 2017. The Company expects to mine higher grade Phase 6 ore at Batu Hijau throughout the period; however, in late 2016, lower grade stockpiled ore is expected to be processed for several months during a pit dewatering sequence at Batu Hijau.
Asia Pacific AISC is expected to be between $840 and $900 per ounce in 2015 and between $800 and $900 per ounce for 2016 and 2017. CAS is also expected to remain stable at between $670 and $720 per ounce in 2015 and between $650 and $750 per ounce in 2016 and 2017. Primary drivers include higher grades at Batu Hijau and higher grades and production at Tanami and KCGM.