Ballarat mine too small for Lihir Gold

摘要

Lihir Gold (lgg-t, lihr-q) has decided to put its Ballarat gold mine in Victoria state, Australia, up for sale. The company says the mine's production won't be nearly robust enough to meet its production portfolio goals. After reassessing the historical mining records and the more recent mining results, Lihir has learned that the project wouldn't be able to exceed 100,000 oz. gold per year, as it would like. The company originally thought the mine would be able to start production at the end of last year at a rate of 200,000 oz. gold per year over a 20-year mine life.