PERTH (miningweekly.com) – The Pogo gold mine, in Alaska, has buoyed ASX-listed Northern Star’s production to record levels, with the company reporting record production in both the June quarter and the half-year.

During the three months to June, 226 028 oz of gold was produced by Northern Star, with the Kalgoorlie operations producing 95 787 oz, the Jundee operation 84 647 oz and the Pogo mine 45 594 oz.

Gold production in the June quarter was up compared with the 186 254 oz produced in the March quarter, and brought the interim gold production to a record 813 134 oz.

Gold sales for the June quarter also increased from the 185 296 oz at the end of the March quarter, to 232 042 oz, brining half-year sales to 840 580 oz.

Northern Star executive chairperson Bill Beament said on Tuesday that the outstanding performance of the Australian operations, and the strong progress made at Pogo, underpinned the record results.

“We are delighted with the quarter’s results across the board. The Australian operations are performing well and demonstrating their well-earned status as Tier 1 mines, and the excellent progress now being made at Pogo vindicates our strong belief in the ability of this world-class gold system to form the third pillar at Northern Star.”

Beament said that Pogo was also delivering outstanding exploration results, which will be reflected in the upcoming reserve and resource update.

“We are confident that Pogo’s increasing rates of mine development and rising stoping tonnage will deliver higher gold production and lower costs. This will occur against a backdrop of a growing high-grade inventory in a Tier 1 location, all of which is entirely consistent with our overall objective of maximizing financial returns from Tier 1 mines with long lives.”
 

During the quarter under review, 60 000 oz of gold was hedged at an average A$1 906/oz, for delivery across the June 2021 half, with 10 000 oz hedged at an average of $1 351/oz, for delivery across the December 2019 half.