PERTH (miningweekly.com) – US-based gold-miner Newmont would complete the ramp-up of its Boddington mine, in Western Australia, by the end of the third quarter, regional group executive Philip Stephenson reported on Monday.

Speaking at the Paydirt Gold conference, in Perth, Stephenson said that the project ramp-up was around 70% completed, and that copper and gold recoveries to date had been above design expectation.

The Boddington operation – set to overtake Super Pit as Australia’s largest gold mine – would produce one-million ounces of gold a year for the first five years of production, before averaging at 850 000 oz/y.

The mine has an estimated gold reserve of 21-million ounces, and an expected life-of-mine of 24 years. Stephenson noted that the mine life could be extended by a further ten or 20 years, if further exploration at the project proved successful.

Newmont was currently pursuing further development of this “underexplored” and “highly prospective” greenstone belt.

With the Boddington production coming on line during 2009, Stephenson noted that Newmont’s production outlook for 2010 had increased to between 5,3-million and 5,5-million ounces. 

Around 44% of this production, or between 2,2-million and 2,5-million ounces, would be produced from the Asia Pacific region, including the Boddington mine, making it the company’s largest producing area.

“If my estimations are correct, the production increase in the Asia Pacific region would also boost Newmont to become the largest gold producer in Australia, as well as the largest gold producer in the Asia Pacific region. That is our target for this year.”

The Boddington operation is one of six in the Asia Pacific region, and Stephenson said that the project would be the cornerstone asset for Newmont’s production portfolio for several years to come.

The mine poured its first gold in September, and started commercial production in November. Western Australian Premier Colin Barnett officially opened Boddington in February.

“Boddington has consumed a lot of our attention over the last couple of years, and it is great to see it move into operation,” said Stephenson.

He added that the processing plant had recently also achieved daily throughput rates in excess of 100 000 t/d. The challenge over the next couple of months, said Stephenson, would be to consistently maintain this throughput.