TerraX posts 735,000 oz maiden resource
TerraX will be focusing follow-up drilling on Sam Otto, the largest of the four deposits, and Crestaurum, the highest grade.
TerraX will be focusing follow-up drilling on Sam Otto, the largest of the four deposits, and Crestaurum, the highest grade.
Futures in New York rose for a fourth day while US crude stockpiles fell for the first time in six weeks.
The company has been shifting to underground mining from an open pit at its giant Grasberg mine in Indonesia and had previously warned that production would take a hit.
Futures in New York fell 1.7% this week.
Australia's biggest listed gold miner posted an underlying profit of $561 million for the full year ended June 30.
The gold giant also said it planned to begin the sale process for its 50% stake in the Kalgoorlie operation in Western Australia in the third quarter.
Gold production in Q2 2018 was 214,593 ounces, up 31% from 164,685 ounces a year earlier.
The Brazilian miner reported a second-quarter net loss of $133 million after a year-ago profit of $76 million.
Production across the company's operations totaled 214,593 ounces in Q2 2019.
Improved results add pressure on majority shareholder, Barrick Gold, to revise its low-ball takeover offer ahead of Tuesday's deadline.