Ernest Henry maintains AISC costs lead
The underground mine, now under the wing of Evolution Mining Ltd, had AISC costs of minus $A644 an ounce in the June quarater, followed by Newcrest Mining Ltd’s Cadia Valley operation in New South Wales with all-in costs of $A174/oz and then the high grade Kirkland Lakes’ Fosterville mine in Victoria with $A454/oz.
These figures were detailed in the gold mining costs for Australian and New Zealand mines in the Aurum Analytics report for the June quarter. The report is produced for PCF Capital Group.
Ernest Henry continued to achieve the dominant cost position through the high copper credit in its production. The gold grade at Ernest Henry was only 0.6 grams/tonne gold.
Another Queensland mine, Mount Carlton – also operated by Evolution – was ranked fourth in AISC costs at $A744/oz. The open pit grade was exceptional at 5.15 g/t gold.
In equal 12 position on the AISC chart was Mt Rawdon in Queensland and the Granny Smith mine in Western Australia, at $A1065/oz.
Mt Rawdon is also operated by Evolution Mining, helping that Australian miner to maintain its status as a low cost producer.