CAPITAL MARKETS

Placer output down

MAJOR gold miner Placer Dome has slightly reduced its forecast production in 2005 after a first quarter that yielded 911,000 ounces of gold at cash costs of $US275 per ounce and earnings of $US31 million.

Michael Quinn

Placer output down

Production has been decreased by 50,000oz to 3.6-3.7 million oz, primarily as a result of mining problems (increased erosion and slides) at its Porgera open pit operation in Papua New Guinea. Cash and...

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