Oct 1 2009
Newmont Mining Corporation (NYSE: NEM) ("Newmont" or "the Company") announced today the first gold pour at its Boddington mine in Western Australia. In addition, the Company has trucked its first shipment of copper concentrate from the mine to the port in Bunbury. The event marked the commencement of gold production at Boddington after the first production of copper concentrate in August.
First Gold Pour at Newmont Boddington Gold. (PRNewsFoto/Newmont Mining Corporation)
At full production, Boddington will be Australia's largest gold mine. Annual gold production is estimated at approximately one million ounces a year for the first full five years with costs applicable to sales of about US$300 per ounce (including copper credits).
"The first gold pour is a significant milestone and an exciting time for our Company," said Richard O'Brien, President and Chief Executive Officer. "As we look to the future, the world-class Boddington gold mine will prove to be a cornerstone asset, providing a stable production base for many years. I am proud of the Company's ongoing commitment and hard work, and am especially grateful for the efforts of our development team for completing this state-of-the-art facility while maintaining our industry leading safety performance."