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.