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Lihir Records Low Gold Production For Q3

Gold production at Lihir was 17 per cent lower than the prior quarter, driven predominantly by lower mill throughput and lower head grade, partially offset by higher recovery rates.

This was according to Newcrest managing director Sandeep Biswas in the July to the September third quarterly report. Mr Biswas said the lower throughput quarter-on-quarter reflects the impact of planned shutdowns in the September quarter and unplanned shutdowns affecting the HGO mills and autoclaves.

He said the head grade was 9 per cent lower than the prior quarter, reflecting the lower grades mined from the current face position in the pit and a larger proportion of lower grade stockpile material being processed recovery rates in the September quarter of 77 per cent were 4 per cent higher than the prior quarter, primarily as a result of lower flotation and smaller grind size due to the lower mill throughput, and improved performance of the Neutralisation and Carbon Adsorption circuit.

Mr Biswas said that AISC per ounce was higher compared to the prior quarter predominantly due to lower sales as a result of lower production, higher maintenance costs associated with the shutdowns in the current quarter and increased production stripping, partially offset by lower sustaining capital expenditure.

“Lihir recorded an annualised mill throughput rate of 13.9mtpa during the quarter, exceeding the annualised mill throughput rate achieved in the September 2018 quarter by 15 per cent.

Several shutdowns have been planned for the December 2019 quarter as Lihir transitions to a biannual shutdown strategy, which is expected to improve plant availability from FY21 onwards,” he said.

Continue reading at https://postcourier.com.pg/lihir-records-low-gold-production-for-q3/ | Post Courier

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