Russian mining giant Norilsk Nickel has revealed its plans for its Western Australian assets, with its Thunderbox gold project likely to get the chop as it increasingly focuses on nickel, reports Australian Associated Press.
February 26, 2007
Reported annual production of 155,203 ounces of gold at a cash cost of $352/oz and quarterly
production of 43,184 ounces of gold at cash cost of $251/oz. Production was expected to cease during the fourth quarter 2007.
August 10, 2006
The company terminated its review of strategic options for the Thunderbox gold mine and has
determined that it will operate the mine to the end of its mine life, expected in mid-2007. The Company will also commit limited resources to seek an extension of the mine life. Ore mined for the second quarter was 549,398 tonnes. This is in line with expectations and is comparable to the second quarter of the previous year (Q2]2005: 549,859). Production is expected to be maintained at this level for the remainder of this year.
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