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New Gold ends 2023 with record production

By Randy Thoms Jan 10, 2024 | 2:43 PM

Photo courtesy New Gold

It was a record year for New Gold.

Its Rainy River mine produced 253,745 ounces of gold, putting it within the high range of expected targets for 2023.

That is also nine per cent more than in 2022.

The company also produced over 127 thousand ounces of silver.

A total of 119,948 tonnes of ore was mined, besting last year’s run by more than 7,000, averaging 34,007 tonnes per day.

Work is also progressing on the underground mine.

The company says it remains on track for the first production at the Main Zone in the fourth quarter of this year, with production ramping up in 2025.

 

Rainy River Mine

Q4 2023

Q4 2022

FY 2023

FY 2022

Open Pit Only

Tonnes mined per day (ore and waste)

109,895

110,536

119,948

112,826

Ore tonnes mined per day

29,377

34,667

34,007

22,965

Operating waste tonnes per day

47,838

56,547

53,537

39,017

Capitalized waste tonnes per day

32,681

19,323

32,404

50,843

Total waste tonnes per day

80,519

75,870

85,942

89,860

Strip ratio (waste:ore)

2.74

2.19

2.53

3.91

Open Pit and Underground

Tonnes milled per calendar day

25,046

22,225

24,012

23,568

Gold grade milled (g/t)

0.94

1.16

0.99

0.91

Gold recovery (%)

90

92

91

91

Gold eq. production (ounces)1

64,290

71,221

259,679

235,194

Gold production (ounces)

62,692

69,753

253,745

229,822