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Wednesday, 28th January 2009 (972 views)

Lihir Gold Limited (LGL) has revealed that its output increased by 26 per cent in 2008.

The global firm announced gold production of 882,000 ounces - a record annual amount for the company.

Furthermore, LGL has forecast output to increase by a further ten per cent in 2009.

Managing director of the company Arthur Hood noted that during the fourth quarter of the year the firm's Ivory Coast and Australian sites accounted for nearly a quarter of the gold produced.

"LGL is now established as a global gold producer, with improved operational reliability and an exciting growth profile from a diversified portfolio of high quality assets," he said.

The company acquired Equigold NL in June 2008 and recorded cash costs of $400 (£280) an ounce for the year.

LGL announced in October that it completed its first old pour at its Bonikro site in Ivory Coast.

 

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