Record production for Lihir

Australian miner Lihir Gold he posted its third consecutive record quarter of gold production.

Australian miner Lihir Gold has posted its third consecutive record quarter of gold production, the company announced in a statement to the Australian Securities Exchange.

According to the report, the company produced over 318,000 ounces of gold in the first quarter, with 247,000 ounces coming from its flagship mine on Lihir Island in Papua New Guinea.

Lihir said its cash costs were $US329 per ounce, with an average realised price of $US876.

The company confirmed its gold production guidance of 1.04 to 1.2 million ounces for the full year, with total cash costs kept below $US400 per ounce.

Another quarter of record production puts the company in a strong position for the future, Lihir managing director Andrew Hood said.

“Overall, the company is in very good shape to continue to grow its current asset base and I look forward to reporting further good progress during the year,” he said.

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