New Gold Inc (NGD.TO) is benefiting from near record high copper and silver prices, which are helping lower its gold production costs, Executive Chairman Randall Oliphant said. "For 2011, we expect production to increase to between 380,000 and 400,000 ounces," Oliphant said. "And we have targeted costs of $430 to $450 an ounce." Oliphant noted that the cost targets are based on copper at $3.75 a pound and silver at $23 an ounce, both well below today's spot prices.
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