Newmont Mining’s Western Australia-based Boddington mine has reached commercial production and will operate as a large, low cost production base.
Once the mine is ramped up to full production it is expected to achieve average annual gold production of one million ounces in the first five years.
Average costs applicable to sales (net of by-product credits) for first five years will be $300 per ounce, while mine life is estimated to be more than 24 years.
Newmont executive vice-president (operations) Brian Hill said the Boddington team advanced this complex project into commercial production quickly after start-up.
“We are pleased with the ramp up status of the mine and look forward to achieving full production in 2010,” Hill said.