VANCOUVER, British Columbia Thanks to a strong fourth quarter, PLACER DOME expects to produce 3.8 million oz of gold during 2003. Next year’s production target is 3.6 million oz.
Both capital and per ounce costs are rising. In 2003, the cash cost per ounce is expected to be US$200, and in 2004 rise to between US$225 and US$230. Likewise, the capital spending budget will rise to US$275 million in 2004, compared to US$245 this year.
Details of Placer Dome’s worldwide operations are available at www.placerdome.com.