DENVER (Yosefardi) – Newmont Mining Corporation reported its attributable gold and copper production at Batu Hijau, Indonesia, increased 14 percent and 11 percent, respectively, in first quarter of this year, from the prior year quarter due to higher ore grade and recovery for both gold and copper.
However, the company was unable to export approximately 2 thousand attributable ounces of gold and 2.5 thousand attributable tons of copper as a result of new export regulations imposed in January 2014 by the Indonesian government.
CAS increased 29 percent per ounce of gold and 46 percent per pound of copper, due to the planned stockpile inventory adjustments and lower ounces and pounds sold.
Gold AISC in Indonesia was $2,167 per ounce, an increase of 8 percent over the prior year quarter and copper AISC was $4.63 per pound, an increase of 25 percent over the prior year quarter, due to lower ounces and pounds sold.