North Lanut Data
Nearby Location News
Gold miner Newcrestâs profit slumps 24% 2016-08-15Gold major Newcrest Mining’s profit declined by nearly one quarter in the 2016 financial year, owing to lower realised gold and copper prices, the suspension of operations at its Gosowong mine, in Indonesia, and lower copper sales volumes. Australia’s largest gold producer on Monday posted underlying profit of $323-million in the 12-months ended June 30, compared with $424-million in 2015. Revenue decreased by 9% from $3.60-billion to $3.30-billion in 2016.
Newcrest meets FY16 production guidance, cuts debt to $2.1bn 2016-07-25Australia’s largest gold producer Newcrest has met its production target for a third year, producing 2.4-million ounces of gold in the 12 months to June 30. The group increased its production by 0.7% year-on-year in 2016, but its fourth quarter production slid by 6% quarter-on-quarter to 598 037 oz, owing to production disruptions at the Gosowong mine, in Indonesia, and lower grades at Cadia, in New South Wales.
East Asia in new Sangihe sale agreement 2016-07-01
East Asia Minerals Corp has entered into a conditional sale and purchase agreement with Core Mining Pte Ltd of Singapore which may result in the sale of the Sangihe Gold Project in Indonesia.
Production resumes at Newcrestâs Kencana mine 2016-06-14Australian gold miner Newcrest has resumed production at the Kencana mine, at its Gosowong operations, in Indonesia. Mining at Gosowong’s Toguraci and Kencana mines was suspended in early February, after a geotechnical event trapped a miner for eight days.
ASX: Mine production resumed at Kencana 2016-06-13
North Lanut Information
General 2015-05-10Avocet purchased an 80% interest in PT Avocet Bolaang Mongondow ('PT ABM'), an Indonesian company holding a 6th generation Contract of Work (CoW), from Newmont Mining Corporation in 2002. Gold is extracted by heap and dump leach techniques at a production rate of 1,200,000 to 1,400,000 tonnes per annum. This particular treatment process results in no tailings being discharged from the mine site. Site management are presently able to treat a combination of the oxide (which exhibits more favourable leaching characteristics) and transitional ore types (less amendable to leaching) to achieve an overall recovery of 61% Au in the 12 month period ended 31 December 2010. The North Lanut mine is included in the South East Asian assets that are subject to the binding sale and purchase agreement announced on 24 December 2010. Further details of the transaction can be found in the press release section of our website.