Metal snips (February 08, 1988)

Turkey is reported to have opened its first silver mine. Forecast by the Turkish government is the processing of 1.1 million tons of ore per year and an annual production of 122 tons silver. Most of the silver is to be sold outside the country.

Newmont Mining (983,000 oz), Newmont Gold (900,000 oz) and Placer Dome (899,000 oz) are ranked one-two-three in Shearson Lehman’s list of top North American gold producers for 1988. Topping the list of lowest cost major gold producers is Amax Gold, with an operating cost of $75(US) per oz.