Norton delivers record results and lower cash costs
PERTH (miningweekly.com) – Gold miner Norton Gold Fields has reported a slight increase in gold production during the three months to September, compared with the previous quarter, as productivity and cost reduction initiatives delivered results.
Production during the quarter under review reached 46 957 oz, at a C1 cash cost of A$819/oz, compared with the 42 324 oz produced in the June quarter, at a C1 cash cost of A$997/oz.
“Improved productivity and cost reduction initiatives delivered record quarterly gold production along with significantly lower cash costs,” said Norton CEO Dianmin Chen.
“The Paddington mill continues to perform above expectations, achieving record monthly processing of 338 000 t in September, contributing to a record gold production for the quarter since the December 2010 quarter.”
The Paddington mill processed some 976 119 t of ore, at a head grade of 1.71 g/t gold during the quarter. The high throughput, combined with sustained effort on reducing reagent use and costs, resulted in the unit cost per tonne falling.
Some 47 588 oz of gold was shipped during the quarter, at an average price of A$1 431/oz.
Chen said this week that despite a challenging start to the year, Norton would maintain its 2014 production guidance, with the miner expected to produce between 176 000 oz and 184 000 oz of gold in the full year.
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