Lynas to extend Paraburdoo mine life

LYNAS Corporation has announced a sole-risk mining plan to extend the life of the Paraburdoo gold project until late next year after above-budget quarterly production positioned the mine to exceed its full-year target of 69,972 ounces.

The Paraburdoo joint venture (Lynas 35%, Sipa Group 65%) posted gold production of 18,644oz for the March quarter at a cash cost of $265 per ounce, exceeding by 10% a budget of 17,055oz at a cash cost