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3/9/2018 — Gold
Waihi and Macraes AISCs on the margin
By Ross Louthean

The June quarter report on Australian and New Zealand gold operations saw the all-in sustaining costs for the Waihi and Macraes operations close to the average for the quarter of $A1,142 an ounce.

Aurum Analytics said the June quarter average for operations covered was up 3.9% on the previous quarter.

The Waihi operations for OceanaGold Corporation (TSX & ASX: OGC) was ranked 21st in the 45 main operations with an AISC of $A1,169 ($US834/oz), while the same company’s original mining operation at Macraes improved to 25th ranking with an AISC of $A1,216/oz ($US874/oz).

Both operations would have had to carry significant mine development costs for the result.

Aurum Capital, which is linked to PCF Capital Group, said Evolution Mining Ltd (ASX: EVN) again lead the Ernest Henry gold-copper operation in Queensland with an AISC of minus $A823/oz and, in this quarter, was followed by Newcrest Mining Ltd’s Cadia Valley operations in New South Wales which had earlier suffered a setback from seismic activity. Cadia Valley’s AISC was $A288/oz.

Newmont Mining Corporation’s Boddington mine south of Perth was the biggest producer with 197,000 oz for the quarter, followed by the Super Pit in Kalgoorlie, operated by Newmont and Barrick Gold.

Of the mines that produced gold as a by-product, BHP’s big Olympic Dam copper-uranium-gold mine led the way with 33,497 oz followed by Oz Minerals’ Prominent Hill operation, also in South Australia, with 28,121 oz.

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