Norton on track to meet production targets

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Norton Gold expects to increase production and continue cutting costs to help keep it on track to meet its 2013 production targets.

Norton’s gold production rose 28 per cent in the March quarter, with the company recording its best result since being taken over by Zijin Mining in August 2012.

“This significant positive change reinforces Norton’s strategy of increasing gold production to drive costs down,” chief executive Dianmin Chen said.

“We expect further improvements throughout 2013.”

Norton, which has operations outside Kalgoorlie in Western Australia, said it was on track to meet its production targets of 154,000 and 162,000 ounces of gold in 2013.

First quarter gold production of 44,053 ounces, was up 28 per cent on the previous quarter.

The rise came despite open pit operations being affected by heavy rainfall from Cyclone Rusty in late February.

Norton also recorded an average gold price of $1,560 an ounce during the quarter.

Cash costs fell 25 per cent, thanks to improved productivity of Norton’s open cut mines and increased grade of ore mined.