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Monday, 20th June 2005 (4211 views)

Lihir Gold has pledged at least $150 million to boost the output of gold at a project in Papua New Guinea.<br/><br/>Investing a maximum of $160 million, Lihir expects to boost output at its Lihir project by 140,000 ounces a year over the first seven years.<br/><br/>According to the company, a processing plant capable of producing 3 million metric tons of gold a year will produce high-grade gold concentrate.<br/><br/>The plant's production will provide an enhanced source of ore to the project's autoclaves, Forbes reports.<br/><br/>Construction is to start in the latter part of this year, with the plant to be operational from Q1 2007.<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=8790689"/>

 

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