Lihir 4th quarter production higher

Lihir has announced a 10 percent increase in gold production for the fourth quarter in 2016.

This was a result of higher mill and autoclave throughput, and improved recovery.

Newcrest Mining says in its December 2016 Report that this was partially offset by lower grade.

“Recovery was higher due to improved autoclave availability and utilisation following completion of the total plant shut in the September quarter, during which material bypassed the autoclave circuit and was fed directly into the NCA circuit to maximise throughput levels with consequential recovery losses.

“All-In-Sustaining-Cost (AISC) per ounce decreased during the quarter primarily due to lower production stripping, as a result of a lower strip ratio in Phase 9.

“Also, lower sustaining capital on a per ounce sold basis, as sustaining capital expenditure, remained steady but on a per ounce basis was lower due to higher gold sales,” states the report.

Loop file photo

Author: 
Cedric Patjole