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Market: TSX, NYSE, ASX
Sector: Gold Mining
Epic: TSX:NMC
News: Latest news
Web Site: Newmont Mining
Other Articles: 15-03-201026-02-201023-01-2010 
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Thursday July 29, 09:30Specialist Energy Group Lays Out a Compelling Blueprint for Growth

After a difficult start to life as a stock market listed company, the company now stands at the threshold of a much brighter future. Legacy issues have been dealt with and the turnaround programme initiated by CEO Ewan Lloyd-Baker is gaining traction.

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Wednesday July 28, 11:30Silver Lake Resources boosts high grade gold resource by 70% to 2.5m ounces

Silver Lake Resources has added over 1 million ounces of gold to its resource inventory during the year after mining 66,700 ounces and expects further encouraging results at its  Mount Monger and Murchison projects.

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Thursday July 15, 02:10Henan Yuguang Lead & Gold investment in Kimberley Metals receives all clear from FIRB

Kimberley Metals (ASX: KBL) has reported that on 12 July the Australian Government Foreign Investment Review Board (FIRB) had no objections to Henan Yuguang Lead & Gold Co. Ltd's [...]

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Newmont Mining

Newmont Mining

Employing approximately 34,000 employees and contractors worldwide, Newmont Mining operates core assets in North America, South America, Australia, Indonesia, and Ghana, with new mine projects currently being developed.  Newmont Mining is one of the world's largest gold producers.
Monday, March 15, 2010

Newmont Mining's Boddington Mine on track to hit 1 million ounces per annum

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By Ross Louthean, Mineweb.com

Production at Australia's new one million ounce per year super gold mine at Boddington south of the Perth metropolitan area in Western Australia, is expected to reach full production by the end of this calendar year.

The "on track" ramp-up forecast was announced at the opening day of the Paydirt Australian Gold Conference by owner Newmont Mining Corporation..

Newmont Asia Pacific's regional group executive-operations, Philip Stephenson said in the conference keynote address that the planned 12 month ramp-up schedule at Boddington, 130 kilometres southeast of Perth, is "on track and is currently about 70% complete".

Stephenson said the first gold at Boddington for "Newmont's cornerstone asset for many years to come", was poured and shipped in September last year "with recoveries for both gold and copper above design expectations".

"The ramp-up is at about 70% and climbing and we anticipate reaching full capacity late  in 2010 as this is a mega project and will correspondingly take time to ramp-up," said.

"Newmont will, however. continue to further develop this under-explored and highly prospective greenstone belt - so do not be surprised if this operation goes for at least 30, maybe 40 years."

Newmont is also a 50% owner in Western Australia's giant Superpit gold mine at Kalgoorlie, as well as the Jundee mine in Western Australia's north eastern goldfields, Tanami mine in the Northern Territory and Waihi gold operations on New Zealand's North Island.

On global gold equity markets, Stephenson said there had been a huge growth in Exchange Traded Fund (ETF) holdings with almost 600 tonnes of gold going into ETF holdings in 2009 as investors sought greater insurance against global economic uncertainty by boosting physical stocks of gold.

"This has increased ETF holdings to just below 45 million ounces or around 75% of annual mine production globally for the entire industry," he added.

"To put this gold movement into perspective, the flight to gold in 2009 was twice what we saw in 2007 and 2008."

He said the operating outlook for Newmont for 2010 was total gold output of 5.3 million to 5.5 M oz at around $US450-480/oz which is expected to improve to around $US310-340/oz with copper credits for Boddington and Batu Hijau in Indonesia taken into account.

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