Porgera still at 25% capacity

PNG Industry News | 27 April 2018

BARRICK Gold is still evaluating the impact of the February 26 earthquake at its Porgera joint venture copper-gold mine in Papua New Guinea’s Enga Province.

It has, however, kept its 2018 group guidance unchanged at 4.5-5 million ounces of gold at all-in sustaining costs of $765-$815/oz, and 385-450Mlb of copper at $2.30-$2.60/lb.

The Porgera processing plant is operating at 25% capacity and is expected to return to full production by the fourth quarter.

The Canadian-based miner produced 1.05Moz of gold in the first quarter at an all-in sustaining cost of $804/oz and 85 million pounds of copper at AISC of $2.61 per pound.

Leave a comment

Filed under Financial returns, Papua New Guinea

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s