KALGOORLIE MINES (SUPER PIT ET AL)
Location:
Australia, Western Australia
Nearest Landmark:
KALGOORLIE
Distance from Landmark:
N/A
Direction from Landmark:
North
Latitude:
30 Degrees 47 Minutes (South)
Longitude:
121 Degrees 30 Minutes (East)
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Property NewsJuly 23, 2009 Newmont Mining reported Kalgoorlie mines gold sales for the quarter ended Jun30/09. Gold ounces sold increased 13% in the second quarter of 2009 compared to 2008 due to higher mill ore grade, throughput and recovery. Costs applicable to sales per ounce decreased 29% due to higher production, lower diesel prices and the weakening of the Australian dollar. December 31, 2008 Gold ounces sold decreased in 2008 compared to 2007 due to a drawdown of gold inventories in 2007, not repeated in 2008. Costs applicable to sales per ounce increased 29%, due to lower production, higher fuel costs, additional leased trucks, higher waste tons mined and movements in the Australian dollar exchange rate, which increased Costs applicable to sales by approximately $23 per ounce, partially offset by lower milling and administrative costs. Gold ounces sold decreased in 2007 compared to 2006 as a result of a 13% decrease in ore
grade milled, partially offset by inventory sales. Costs applicable to sales per ounce increased due to the strengthening of the Australian dollar, which increased Costs applicable to sales by approximately $51 per ounce, lower production and higher mining costs. Mining costs were higher primarily due to increased sound abatement, contract maintenance, drilling, fuel and tire costs. June 30, 2008 Gold ounces sold decreased 20% in the first half of 2008 compared to 2007, primarily due to 11% lower mill grade, 3% lower mill throughput and higher drawdown of finished goods inventory during the first half of 2007. Costs applicable to sales per ounce increased 48%, primarily due to lower production, the strengthening of the Australian dollar, which increased Costs applicable to sales by approximately $79 per ounce, net of hedge gains, higher fuel costs and higher contract maintenance costs.
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