These mines attained their first commercial production recently. In fact, Cerro Negro’s third-quarter production has increased at a triple-digit rate to 161,100 gold equivalent ounces from 22,900 gold equivalent ounces last year. Also, the production at Eleonore jumped to 86,700 ounces of gold from 18,300 ounces of gold last year. But, what’s even more impressive is that despite this impressive increase in production, Goldcorp was able to lower its costs, as a result of which the company was able to improve cash flow. For instance, the company has reduced its all-in-sustaining costs by over 21% to $848 per ounce from $1,067 per ounce last year.
(Graff, 2003). For example, Freeport in Timika, Papua .They bought the gold from Indonesia with cheap price . Not only exploited Indonesia’s gold but also destroy the natural resource. These happened because the human resource in the Indonesia is not competitive, lack of education. Indeed, government needs to renew the contract with Freeport, increase the quality of education so that the citizen has skill to compete in these era of
(COMP Executive Vice President Nelia Halcon, an excerpt from February 3 philstar.com article, “Mining Firms Seek Help From Duterte Economic Managers”, by Louise Maureen Simeon) • Estimates that almost P70 billion in gross production value and close to P20 billion in taxes will be lost if the DENR decision will not be overturned. About 67,000 jobs are also at risk. (February 3 philstar.com article, “Mining Firms Seek Help from Duterte Economic Managers”, by Louise Maureen Simeon) How this article affects me as person reminds of the time my father worked for DM Consunji’s Mining Corporation, in Semirara Island. Where, into his first year into the job, he had the whole family relocated to the island where my father worked. Semirara Mining Corp. has this open pit of excavating coal that makes you feel dizzy just by looking from the edge of the open pit and seeing originally humongous equipment and machinery looking like those individual