SOURCE: Business Review Australia

Business Review Australia

November 06, 2011 20:11 ET

New Gold's Peak Gold Mine

SAN DIEGO, CA--(Marketwire - Nov 6, 2011) - Business Review Australia takes a look at New Gold's Peak Gold Mine. Being located in Cobar, New South Wales has its benefits. Primarily, unlike most mining ventures in Australia, which can be located hundreds of kilometres from the nearest town or city, Peak Gold Mine is situated by a residential community. Considering the current difficulty in finding skilled miners in Australia, let alone ones willing to live in harsh remote environments, having a town nearby is a huge advantage.

Peak Gold Mine is a deep underground mine with multiple commodities, adding to its advantageous position. "We've got good systems and processes in place and a very modern fleet with a well-maintained plant," says Vice President and General Manager Peter Lloyd. "We're very established with a good culture. We've got a good balance of family and work.

"We've got a good resource base to draw from with a mine life past 2017 of known resources. Each year we've had a good conversion rate of resources to reserves and are replacing depleted stock with new resources we've found."

To learn more, read the full article.

About Peak Gold Mines

Peak Gold Mines is a large tenement holding in Australia's Cobar mineral field. Mining operations at Peak Gold began in 1991, and through a series of acquisitions the mine changed hands from Rio Tinto to Goldcorp before finally being acquired by Canadian mining firm New Gold Inc. The mine produces some silver, gold doré which is primarily sold to the Perth Mint, and copper concentrate the majority of which is destined for resource-hungry China. Production levels are approximately 90,000 to 100,000 ounces of gold and 6,000 tonnes of copper metal per year.

About Business Review Australia

Business Review Australia is a leading digital media source of news and content for C-level executives focused on business and industry-specific news throughout Australia. Business Review Australia is the territory-dedicated arm of the White Digital Media Group. Founded in 2007 by entrepreneur Glen White, White Digital Media retains a diversified portfolio of websites, magazines, daily news feeds and weekly e-newsletters that leverage technology to innovatively deliver high-quality content, analytical data, and industry news. For more information, contact 1-760-827-7800 or visit

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