Engineering & Mining Journal

MAY 2018

Engineering and Mining Journal - Whether the market is copper, gold, nickel, iron ore, lead/zinc, PGM, diamonds or other commodities, E&MJ takes the lead in projecting trends, following development and reporting on the most efficient operating pr

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GOLD MINERS ROUNDUP MAY 2018 • E&MJ; 31 www.e-mj.com © 2018 Calumet Branded Products, LLC W W W . B E L R A Y . C O M M a i n t e n a n c e C o s t S a v i n g s D e c r e a s e D o w n t i m e E x t e n d C o m p o n e n t L i f e R e d u c e C o n s u m p t i o n O u t s t a n d i n g E x t r e m e P r e s s u r e , S h o c k L o a d a n d A n t i - W e a r P r o p e r t i e s The company reported it sold: Los Filos to Leagold Mining Corp.; its 100% interest in the Cerro Blanco project to Bluestone Resources; its 21% interest in the San Nicolas copper-zinc project; and its 100% interest in the Camino Rojo project, "part of the Peñasquito seg- ment," to Orla Mining Ltd. AISC fell 4% yoy to $824/oz, down 20% from the 2013 high of $1,031/oz. It saw its average received price increase 2% yoy and ranked fourth out of the group for the metric. Total ore processed fell 36% yoy to 48.3 mt, and total gold output fell 11%, the steepest decline for the group. This happened according to plan. "Gold production in 2017 exceed- ed the midpoint of the company's gold production guidance of 2.5 million oz," Goldcorp reported. Lower production and gold sales were thus attributed to lower grades, "an increase in operating costs, and the impact of the receipt in 2016 of insurance proceeds relating to oxygen plant failures in 2015." Total gold output at Pueblo Viejo fell 7% yoy to 650,000 oz after rising 22% yoy in 2016. It rose 2% at Penasquito, to 476,000 oz after declining a whopping 46% yoy in 2016. The company is targeting reserves of 60 million oz by 2021. Last year, "its proven and probable gold mineral re- serves increased to 53.5 million oz at June 30, 2017, from 42.3 million oz of gold mineral reserves at June 30, 2016, a 26% increase," Goldcorp reported. Re- serves at Pueblo Viejo fell 10% yoy to 7.2 million oz as of December 31, 2017. Goldcorp forecasts producing rough- ly 2.5 million oz in 2018. Median guid- ance for Pueblo Viejo is 600,000 oz, Blasthole rigs drill the next round at the Fort Knox mine in Alaska. (Photo: Kinross)

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