Newmont Corporation has predicted an increase in production at their Boddington gold mine in 2021.
“The company’s production guidance is 6.5 million ounces of gold in 2021 and will continue to be a stable 6.2 to 7 million ounces to 2025.”
According to their 2021 to 2025 production guidelines, production at Boddington will finalise full potential with improvements to reach 40 million tonnes per annum.
They have also predicted higher grades and improved efficiency through autonomous haulage between 2022 and 2023.
A secondary mine in the Northern Terriority called the Tanami mine will reach 500,000 ounces of production in 2021. This will lead to the mine to advance to an expansion 2 project. The ramp up is expected to offset lower production at the Boddington mine in 2023.
“Production guidance for 2024 and 2025 is estimated to be between 6.5 million to 7 million ounces, which will be bolstered by its Ahafo North mine in Africa and Yanacocha Sulfides project in Peru, along with reaching a higher grade in North America.”
The execution stage for both projects is expected to commence in 2021. This is based on operations without COVID-19 interruption.
Newmont president and CEO Tom Palmer said the outlook remains steady in the next five years.
“Newmont’s outlook remains strong and stable as we apply the rigor and discipline of our proven operating model across our world-class portfolio,” he said.
“Our five-year outlook reflects improving production and costs as we continue to deliver value from superior operational and project execution.”