Thursday, January 7, 2010

Indonesian copper and gold output expected to fall in 2011-2012

Indonesia’s 2011 and 2012 copper and gold production is expected to fall by an average of 30% because mine site expansion by PT Newmont Nusa Tenggara will temporarily reduce production capacity at the Batu Hijau mine in West Nusa Tenggara province.

Rubi W. Purnomo, Newmont’s spokesman for operations in Indonesia, told The Jakarta Post that PT NNT will actually mine more tons of material in 2011. "However, copper and gold production will decrease in 2011, because the ore material has different characteristics from that mined in 2010,” he said.

As of September 2009, gold sales from the Batu Hijau mine were 381,000 ounces, up from 185,000 ounces in the same period in 2008. Consolidated copper sales reached 342 million pounds, up from 201 million pounds in the comparable period in 2008.

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