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Saracen beats production expectations

Saracen beats production expectations

Photo by Bloomberg

7th July 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Gold miner Saracen Mineral Holdings on Tuesday reported that gold production for the year ended June exceeded expectations, following record production in the month of June.

Gold production during the full year reached 167 531 oz of gold, compared with a previously announced guidance of 160 000 oz. Gold production in the month of June was 46 563 oz.

The miner announced record yearly and quarterly production from its Carosue Dam gold mine, in Western Australia, and successfully completed the Whirling Dervish openpit operation.

“We finished the pit within 36 hours of the original predicted completion date of June 30, which we set back in 2012 before mining commenced,” said Saracen MD Raleigh Finlayson.

“The pit has been a great success and gives us real momentum and confidence as we embark on our next project at Thunderbox.”

With the addition of the Thunderbox operation, Saracen’s production was expected to double to 300 000 oz/y within two years.

Edited by Creamer Media Reporter

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