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Wafi-Golpu JV in PNG pursues special mining leases

Staff Reporter | 5:48 PM |
THE Wafi-Golpu Joint Venture parties are continuing to work with the Government as regards the application for a special mining lease for the Wafi-Golpu project.
Newcrest Mining Ltd, in its December report, said the Wafi-Golpu Joint Venture parties were working with the Government to progress the application for the special mining lease.
“Work continued during the December quarter on the areas identified in the forward work plan,” a Newcrest statement said.
The report noted an increase in its production along with a 5 per cent decline in the companys All-In Sustaining Cost (AISC) in last year’s final quarter.
Newcrest chief executive officer Sandeep Biswas credited this to a record mill output rate from its operations in Lihir at 3.3mt plus an increased rate in Cadia, Australia.
“Newcrest achieved a significant milestone during the December quarter with Lihir reaching its target of an annualised mill throughput rate of 13.0mt, a record for the site,” Biswas said.
“Cadia also continued to increase mill throughput, processing ore at an annualised rate of 26.4mt, a 6 per cent increase on the prior quarter and above the nameplate capacity of the plant.
“These achievements and efforts by all our operations contributed to a 5 per cent decrease in Newcrest’s All-In Sustaining Cost per ounce and an increase in production from our continuing operations.”
The company’s report noted gold production of 615koz for the quarter in line with the prior quarter, a 2 per cent increase for ongoing operations.
“Gold production was slightly up in the December quarter for continuing operations,” it said.
Gold production in Lihir was 10 per cent higher which was partially offset by lower grade according to the report.
Newcrest noted the completion of its sale of 50 per cent interest in the Hidden Valley project as having no costs reported in the December quarter. The National