Rocmec Mining inc. announce that it has signed an agreement with Newmont USA Limited (Newmont USA) to implement its exclusive, patented Thermal Fragmentation Mining Method at Newmont’s Midas underground mine, in Nevada, U.S.A. Rocmec will employ its thermal fragmentation mining method to fragment ore and recover a narrow-vein stope over an initial distance of 600 feet (183m), which is currently available. The company aims to deliver the advantages of the thermal fragmentation such as reduced dilution, increased productivity, and lower production costs.
Newmont report operational results for the Midas operations for the quarter ended Mar31/09. During the 3 months, 9% lower tons of ore were mined, compared to the same period last year at Midas due to ground failure which curtailed production in March but is expected to resume by the end of April 2009.
Newmont Mining Corp. has confirmed its previously announced 2007 outlook for gold sales of between 5.2 million and 5.6 million equity ounces at costs applicable to sales of between $375 and $400 per ounce, and copper sales of between 210 million and 230 million equity pounds at costs applicable to sales of between $1.10 and $1.20 per pound. In addition, the company continues to expect consolidated capital expenditures of between $1.8-billion and $2.0-billion for 2007. Newly appointed chief executive officer, Richard O'Brien, said: "... we are benefiting from lower-than-anticipated costs at Ahafo in Ghana and the planned reduction in stripping at Batu Hijau in Indonesia. Although the Midas mine in Nevada will remain closed until we can ensure a safe working environment for our employees ..."
