Super pit in super slide
Kalgoorlie-Boulder’s Super Pit has turned in its worst quarterly performance in more than a decade, slipping to fifth on a list of Australia’s biggest-producing gold mines.
The Super Pit’s production fell dramatically from 162,000oz to 118,000oz, its lowest quarterly result for 50:50 owners Newmont and Barrick Gold.
The 44,000oz shortfall in Super Pit production is worth around $68 million, a figure based on the average Australian dollar gold price of $1547 an ounce for the March quarter.
The Super Pit’s lowest output previously was 123,000oz in the September 2001 quarter.
The decline was blamed on a 16-day maintenance shutdown at the Fimiston plant.
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The Australian gold quarterly review, released yesterday by Melbourne-based mining consultants Surbiton Associates reveals gold output fell across the country in the March quarter.
Output for the three months to March 31 was 69 tonnes, down 7 per cent from 73t in the December quarter.
Surbiton director Sandra Close said fewer days in the March quarter had a negative impact on Australian gold output. Each day of the year about 750kg of gold was produced, she said, worth an estimated $37 million at current gold prices.
Newmont Mining’s Boddington asset remains the biggest-producing operation with 184,000oz for the quarter, down from 189,000oz.
Newcrest Mining’s Telfer operations, Northern Star Resources’ Jundee mine and Regis Resources’ Duketon operations all reported lower output, citing high rainfall.
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