Photo by: PT Newmont Nusa Tenggara
TORONTO (miningweekly.com) – US gold and copper miner Newmont Mining on Tuesday lifted its Indonesian production outlook after it on Monday reported that the Indonesian government had given it a permit to resume copper concentrate exports.
After resolving export issues in Indonesia, Newmont said that it now expected to produce between 55 000 oz and 65 000 oz of gold from Batu Hijau, up from its second-quarter assumption that the mine would remain on care and maintenance until at least January 2015, with output stalled at between 15 000 oz and 20 000 oz.
Newmont lifted its Indonesian copper outlook to between 65 000 t and 75 000 t at Batu Hijau, up from 15 000 t to 20 000 t for the full year.
For the full-year 2014, the Denver, Colorado-based mining major said that it now expected to produce between 120 000 t and 125 000 t of copper across all operations, up from its second-quarter guidance update of 80 000 t to 95 000 t.
Newmont raised its 2015 total copper output guidance to between 250 000 t and 270 000 t, up from previously revised expectations of 220 000 t to 240 000 t.
The company also raised its consolidated gold output guidance for 2015 to between 5.21-million and 5.71-million ounces, up from 5.1-million to 5.4-million ounces.