Western Australia-based Medusa Mining says it expects gold production to increase by 60,000oz at its Co-O mine following a recent dip in production.
The mine operator is currently expanding the mine where the target for gold production is set for one million ounces but has so far only produced 2,034,000 tonnes, containing 713,000 ounces.
Medusa says recent production has been reduced by workforce shortages combined with re-assignment of mining crews to commence its expansion programme.
The company estimates long-term profits of approximately US$200 per ounce.
By staff writer
