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MEI Online: Commodities: Metallic Ores: Gold: Latest News: November 24th 2009

 
 

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:: Newmont Announces Commercial Production at Boddington

Newmont Mining Corporation has announced that its Boddington operation in Western Australia has achieved commercial production.

"I would like to thank the thousands of employees and contractors for their dedication to bringing Boddington into operation in a safe and responsible manner," said Richard O'Brien, President and Chief Executive Officer. "This world-class mine will remain a core asset in our portfolio for many years to come by providing a large, low cost production base in a AAA-rated country."

Upon ramp up to full production, key operating highlights for Boddington include:

  • First five year average annual gold production: ~1,000,000 ounces;
  • First five year average costs applicable to sales (net of by-product credits): ~$300 per ounce; and
  • Estimated mine life in excess of 24 years.

"The team at Boddington has done an outstanding job delivering this large and complex project into commercial production so quickly after start-up," said Brian Hill, Executive Vice President, Operations. "We are pleased with the ramp up status of the mine and look forward to achieving full production in 2010."

 

 

   

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