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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (36429)	5/1/2009 2:55:02 PM
From: LoneClone	Read Replies (1) of 194000

Costs hit OM mine 29th April 2009, 7:45 WST thewest.com.au OM Holdings yesterday confirmed its Bootu Creek mine in the Northern Territory was not making money. Cash costs at Bootu Creek rose to an average of $6.84 a tonne in the March quarter as a combination of planned plant shutdowns over the New Year period, trial processing of low-grade mineralised ore and bad weather hit production. At the same time manganese ore prices slumped as low as $US4.80 ($6.84) a tonne — down 70 per cent from last year’s highs of $US16. Shares in OM closed 2.5¢ higher at $1.26.

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