|Home News Conferences Commodities Publications Business Directory Resources Help|
:: Newmont Pours First Gold at Boddington
At full production, Boddington will be Australia's largest gold mine. Annual gold production is estimated at approximately one million ounces a year for the first full five years with costs applicable to sales of about US$300 per ounce (including copper credits).
"The first gold pour is a significant milestone and an exciting time for our Company," said Richard O'Brien, President and Chief Executive Officer. "As we look to the future, the world-class Boddington gold mine will prove to be a cornerstone asset, providing a stable production base for many years. I am proud of the Company's ongoing commitment and hard work, and am especially grateful for the efforts of our development team for completing this state-of-the-art facility while maintaining our industry leading safety performance."
Newmont Boddington Gold is a large, open pit mine in Western Australia located 130 kilometers southeast of Perth within the Saddleback Greenstone Belt. Newmont believes Boddington has significant exploration potential, with gold reserves increasing from 16.6 million ounces in 2007 to 20.1 million ounces in 2008 (on a 100% basis) and an expected mine life in excess of 24 years.
© 1998-2017, Minerals Engineering International