Monday, 25th October 2004 (3290 views)

Papua New Guinea based Lihir Gold has announced that recent production results have exceeded expectations and the firm now claims it is confident of meeting financial year targets.

The mining company produced 155,002 ounces of gold in the third quarter period to September 30, 2004.

In addition, total gold production for the first nine months of the financial year was 432,411 ounces, an increase of 10.7 per cent on the same period last year.

Lihir Gold hopes to produce 600,000 ounces of gold by the end of the 2004 year and predicts fourth quarter production will be more than 165,000 ounces.

The firm, which is 14.5 per cent owned by resource group Rio Tinto, claimed that costs including maintenance were currently higher due to maintenance projects.

 

« Back to Gold News stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.