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Article: NEWMONT BOOSTS GOLD RESERVES BY 10% 1995 ORES INCREASED TO 28.8 MILLION OUNCES.(Business)
- Article from:
- Rocky Mountain News (Denver, CO)
- Article date:
- February 27, 1996
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Byline: Jeanie Stokes Bloomberg Business News
Newmont Gold Co. said its proven and probable gold reserves rose by 10% in 1995 to 28.8 million ounces from 26.1 million at the end of 1994.
Proven and probable reserves are those ores that can be mined economically using conventional technology.
Denver-based Newmont Gold, which is the 90.1% owned operating unit of Newmont Mining Corp., said it added 5.2 million ounces to its recoverable material, more than double the 2.5 million ounces that were mined during the year.
Most of the added reserves, 4.0 million ounces, came from reclassifying previously identified mineralized material to reserves. About 1.2 million ...