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Thursday, 26th July 2007 (2749 views)

Precious mineral exploration company Lihir has reported record production levels in its second quarter.

The Papua New Guinean gold mining company revealed that gold production for this quarter reached 182,428 ounces taking production for the first six months of the year to 375,730 ounces of gold.

At the gold company's Lihir Island operations, material movements were recorded at 15.6 million tonnes in the second quarter compared to 14.9 million tonnes in the previous quarter.

"The strong result follows record full year production of 651,000 ounces in 2006 and confirms that [Lihir] is making consistent progress in transforming its operations, improving reliability and increasing productivity," commented Lihir managing director Arthur Hood.

According to Mr Hood, Lihir is on track to achieve record full-year production of 800,000 – 830,000 ounces, with second half production predicted to be between 424,000 and 454,000 ounces.

Gold production is expected to increase due to process plant expansion, higher gold grade and increased autoclave throughputs.

 

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