Red Back Cuts Output Forecast

27 July 2010 (Last Updated July 27th, 2010 18:30)

Canadian gold miner Red Back Mining has reduced its full-year gold production prediction by 9% due to a damaged water pipeline at its Tasiast mine in Mauritania. The company's total gold production for the year is now forecast to be between 445,000oz and 465,000oz. Red Back said i

Canadian gold miner Red Back Mining has reduced its full-year gold production prediction by 9% due to a damaged water pipeline at its Tasiast mine in Mauritania.

The company's total gold production for the year is now forecast to be between 445,000oz and 465,000oz.

Red Back said it expects to produce between 205,000oz and 215,000oz from Tasiast as it cuts the mine's production outlook by 15%.

Two sections of the pipeline, which are being replaced, are scheduled to be complete by the fourth quarter, Red Back said.