extremely negative article, page-20

Dhuy.I have separated the last paragraph from this article for a reason!

Lihir Gold Ltd (LGL) said Wednesday it is on track to meet its previously stated full year production guidance of more than 850,000 ounces of gold. LGL Chief Executive Arthur Hood said the company expects to produce between 700,000 and 770,000 ounces from its Lihir Island mine in Papua New Guinea in 2008, between 40,000 and 50,000 ounces from its Ballarat development project in Australia along with about 50,000 from Mt Rawdon and up to 70,000 from Bonikro. Hood told shareholders at the miner's annual general meeting in Port Moresby that LGL should produce more than 1.2 million ounces of gold in 2009 and expansions should boost output to an annual rate of between 1.3 million and 1.4 million ounces by 2011.

The company has developed a geothermal power station at its Lihir Island mine, reducing its reliance on heavy fuel oil, and Hood said soaring oil prices mean the move is now saving the company about US$50 million a year and delivering a further US$6 million in carbon credits.