Gold miner Newmont Mining Corporation
(ASX:NEM) has poured its first gold at its Boddington mine in Western Australia.
The event marks the start of gold production at Boddington after the first production of copper concentrate in August.
The miner who has significant assets in the U.S. also says it has trucked its first shipment of copper concentrate from the mine to the port in Bunbury.
Newmont believes that at full production Boddington will be Australia’s largest gold mine with annual gold output estimated at around one million ounces a year for the first full five years.
The company forecasts production costs of US$300 an ounce.
CEO Richard O’Brian says the Boddington mine is a world-class mine and will be a cornerstone asset providing a stable production base for many years.
Newmont Mining posted a profit in 2008 after a massive loss the year before.
