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Friday, 3rd July 2009 (701 views)

A gold mining company operating in Papua New Guinea has achieved a significant increase in production over the last three months.

New Guinea Gold revealed that output rose by 40 per cent in the second quarter of the year, compared to the previous three-month period.

Total gold production reached 2,246 ounces, while figures for June were said to be 65 per cent above those for April.

Chairman and chief executive of the firm Bob McNeil explained that much of this can be attributed to improvements that have been made to New Guinea Gold's vats.

"By mid-June, as a result of these changes, in two of six vats solution flow rates were 50 per cent to 70 per cent higher than in April," he said, adding that plans are in place for the remaining vats to be updated in the next two months.

The company currently has interests in eight gold properties in the country.

 

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