Newmont Declares Commercial Production At Twin Creeks Project
Newmont Mining Corp. (NYSE: NEM) says it has achieved commercial production at its Twin Creeks underground expansion project in Nevada. The Twin Creeks underground mine will add between 30,000 and 40,000 ounces of gold production per year at all-in sustaining costs of between $650 and $750 per ounce for its first five years of production, Newmont says. The new ore will also allow Newmont to process stockpiled ore that had previously been classified as waste, and extend processing life to 2030, the company adds. The project was completed on schedule for $42 million, just below guidance of between $45 and $55 million. “The expansion extends profitable production and improves recoveries at Twin Creeks, and serves as a platform to further explore the deposit, which remains open along strike and at depth,” says Gary Goldberg, president and chief executive officer. The underground mine is mechanized, featuring remotely operated loaders to improve safety and efficiency, Newmont adds. Twin underground ore will also be blended with ore from Turquoise Ridge. In early 2018, Newmont and Barrick Gold Corp. approved the Turquoise Ridge Mine optimization project, which involves sinking a production shaft to access the richest part of the deposit.
By Allen Sykora of Kitco News; firstname.lastname@example.org
Sandstorm Gold Sales 14,450 Gold-Equivalent Ounces
Tuesday July 03, 2018 10:06
Royalty company Sandstorm Gold Ltd. (NYSE American: SAND, TSX: SSL) reports the sale of approximately 14,450 gold-equivalent ounces during the second quarter. Approximately 85% of the ounces came from operations run by major and mid-tier mining companies. The company listed 14,685 ounces sold in its first-quarter earnings report. Sandstorm has a portfolio of 188 royalties, of which 21 of the underlying mines are producing.