22 April 2006

Australia's Oxiana gold output reaches record levels, copper output strong - Forbes.com

Australia's Oxiana gold output reaches record levels, copper output strong - Forbes.com: "SYDNEY (AFX) - Oxiana Ltd said its output of gold reached record levels in the March quarter, helped again by record production at the Golden Grove mine in Western Australia.

The miner said production at its Sepon project in Laos slipped due to lower throughput and grades arising from development work in order to access new ore.

Total gold output for the quarter reached 62,683 ounces from the 59,406 ounces produced during the December quarter.

Gold produced at Sepon totalled 42,091 ounces while gold produced from Golden Grove was 20,592 ounces.

Total copper output for the March quarter slipped to 17,008 metric tons from 17,859 tons in the previous quarter.

Silver output reached 973,665 ounces in the quarter with the majority of 929,018 ounces produced at Golden Grove.

Oxiana said it remains on track to produce 60,000 tons of copper in 2006 from Sepon.

Sepon's 2006 gold production is expected to be around 170,000 ounces, with slightly higher output expected in the June and December quarters but lower production is expected in the September quarter from wet season impacts.

Meanwhile, the Golden Grove operations reached record throughput in the March quarter due to improvements in grinding reducing other bottlenecks.

Oxiana's Golden Grove produced a record 39,455 tons of zinc during the quarter while copper output was 2,952 tons. "

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