SYDNEY (Yosefardi) – Straits Resources Ltd is now seeking a buyer for mining production at Mt Muro gold mine in Central Kalimantan as the company decided to stop funding the Mt Muro asset.
The Mt Muro operations were placed on care and maintenance on 2 August 2013 after being suspended since June 29, 2013 following the incident at the mine, where, according to Straits, illegal miners caused damage to several buildings, vehicles, and equipment.
In September 2013 quarter, Mt Muro’s gold production reached 2,820 oz while silver’s production totaled 64,971 oz. Gold and silver sales reached 4,469 oz and 314,170 oz. Gold and silver mining operation have recovered 91.5% and 82% each.
Mt Muro production cost totaled US$6.515 per oz in September 2013 quarter, of which total cash costs accounted for US$6.167 per oz.