Photo by: Bloomberg
PERTH (miningweekly.com) – Australian gold miner Newcrest Mining has reported lower fourth-quarter and full year gold production, following disruptions at the Cadia East operation, in New South Wales.
Gold production during the three months to June was down 7.8% on the previous quarter, to 552 000 oz, while full-year production was down 2.4% to 2.38-million ounces.
Copper production for the quarter was down 41.3%, to 13 000 t, while full year production was up 1% to 84 000 t.
Operations at the Cadia East operation were affected by a seismic event in July this year, which halted production. However, the gold miner noted that production from the Lihir operation, in Papua New Guinea, increased significantly, with the mine achieving record quarterly gold production of 276 230 oz, owing to a record mill throughput rate of 14.5-million tonnes a year.
Production at the Telfer mine, in Western Australia, was also higher than the previous quarter, following heavy rainfalls in the March quarter.
“Lihir’s performance this quarter represented a record for quarterly mill throughput rate and gold production, which is testament to the hard work and relentless drive for improvement that we strive for across all our sites,” said Newcrest MD and CEO Sandeep Biswas.
The Cadia operation produced 76 552 oz of gold and 7 818 t of copper during the quarter, while full-year production was recorded at 619 606 oz of gold and 63 805 t of copper.
Lihir produced 276 230 oz of gold during the three months to June, and 940 060 oz for the full year. The Telfer mine produced 88 688 oz of gold and 5 150 t of copper in the June quarter, while full-year production was recorded at 386 242 oz of gold and 20 136 t of copper.
The Gosowong mine, in Indonesia, delivered 80 035 oz of gold in the quarter, and 295 876 oz in the full year, while the Bonikro mine, in Cote d’Ivoire, delivered 30 309 oz of gold in the quarter and 128 327 oz of gold in the full year.
Meanwhile, group all-in sustaining costs during the quarter ended June increased by 26.5% to A$902/oz, while full year costs were up 3.3% to A$787/oz. This was driven by higher costs at the Cadia operation, as well as at Gosowong and Bonikro mines.