Newmont Announces First Production at Boddington; Ramp-up to Full Production Continues
Friday, August 14th, 2009
Newmont Mining Corporation (NYSE: NEM) is pleased to announce that its Boddington mine in Western Australia successfully produced its first gold and copper concentrate, processing approximately 100,000 tonnes of ore during the first two weeks of August.
Richard O’Brien, President and Chief Executive Officer of Newmont said, “I am proud to have been at site to witness the production of our first concentrate, which is a testament to the dedication and focus of the talented Newmont employees and contractors who have worked so diligently to safely complete this project. As we continue to ramp-up toward commercial production, Boddington will become a cornerstone asset in our portfolio.”
Key operating highlights for Boddington are expected to include:
— First five year average annual gold production: ~1,000,000 ounces;
— First five year average costs applicable to sales (net of by-product
credits): $300 per ounce;
— Proven and probable gold reserves: 20.1 million ounces; and
— Estimated mine life in excess of 24 years.
For further information visit: www.newmont.com