Indonesia Official: Newmont Output Likely Down Next 4-5 Yrs
October 13 2009 - 11:57PM
Dow Jones News
The Indonesian government estimates that annual output from PT
Newmont Nusa Tenggara's Batu Hijau mine will fall between 1.5% and
2% annually over the next five years following a landslide last
month, a government official said Wednesday.
"It's based on a technical analysis," said Bambang Setiawan,
director general of mineral, coal, and geothermal resources.
The Indonesian unit of copper and gold miner Newmont Mining
Corp. (NEM) late last month halted mining operations at the copper
and gold mine on Sumbawa island following a landslide, but it
continued to process ore stockpiles.
The company has recently gradually resumed mining.
It has said it expects 2009 copper output from the Batu Hijau
mine to rise 60% to 455 million pounds and its gold output to rise
81% to 486,000 ounces.
-By Deden Sudrajat, contributing to Dow Jones Newswires; 62-21
39831277; ddens-09@yahoo.com