Due to a plant shut down, and higher fuel and currency costs, the profit of Lihir Gold Ltd., which is the second-largest gold mining company on the Australian Stock Exchange, fell down by 10%. It reported a net loss of $US234 million in 2009 as compared to a net profit of $US111m a year earlier. In the previous year, the profit rose 57% to $US289.5m, from $US184.1m, apart from the impairment charge of $US413m for the Ballarat operation in Australia. The loss of about $US21.5m related to Ballarat would bring Lihir's full-year result into line, after the taxes.

"The result is pretty much in line with our expectations, after taking into account the Ballarat charge," said RBS analyst Lyndon Fagan.

Arthur Hood the former Chief Executive Officer of Lihir Gold forecasted a turn down of as much as 15% in gold production, this year.

"Operationally, it all appears to be running quite well for Lihir, although the big unknown to the market remains the production profile of Lihir Island from 2012 onwards. Until there is clarification here, investors will be reticent to launch into the name. Additionally, the recent rise in tensions in the Ivory Coast will unsettle a few shareholders", said Mr. Battershill.

Due to planned maintenance at Lihir Island and Mount Rawdon, production will fall down.