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Newmont Mining reaches commercial production at Tanami expansion project

Published 09/01/2017, 11:59 AM
© Reuters.  Newmont Mining reaches commercial production at Tanami expansion project
NEM
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  • Newmont Mining (NEM +0.9%) says its Tanami gold mine in Australia has reached commercial production after completing an expansion project on schedule and on budget.
  • NEM expects the expansion to increase Tanami’s gold production by 80K oz./year to 425K-475K oz., lower all-in sustaining costs to $700-$750/oz. and extend mine life by three years.
  • NEM says the expansion also creates a platform for further growth, and studies to develop a second expansion are underway.
  • Now read: Newmont Mining: How Would You Spend 8M?


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