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Friday, 17th December 2004 (4562 views)

The manager of Newmont Mining has claimed that the company is close to meeting its gold target for the Yanacocha mine for this year.<br/><br/>According to Bloomberg, the site is based in northern Peru and is the second largest gold mine in the world.<br/><br/>Production at the mine made up nearly half of the 171.6 metric tonnes of gold produced in Peru last year.<br/><br/>The general manager of Yanacocha, Brant Hinze said: "We had a tough first half, but the second half has been encouraging. We will be very close, or possibly meet our 3 million-ounce target.' <br/><br/>Newmont spent $30 million on exploration during 2004 and is planning to invest a similar amount next year.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7345163"/>

 

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