Newcrest production up by 6%
PERTH (miningweekly.com) – Gold miner Newcrest Mining has reported a 6% increase in gold production and a 36% increase in copper production for the full year ended June, on the back of a strong fourth quarter.
Gold production in the June quarter was up by 6%, to 661 000 oz, driving gold production in the full year to reach 2.48-million ounces, also up 6% on the previous financial year.
Copper production in the fourth quarter was up by 14% on the March quarter, to 29 000 t, helping Newcrest to report a 36% increase in copper production, to 106 000 t, for the full year.
“Newcrest had a strong fourth quarter, enabling us to meet our group production and cost guidance,” said MD and CEO Sandeep Biswas.
“Cadia delivered a quarterly and annual gold production record, exceeding the top end of its production guidance range,” Biswas said.
Gold production at the Cadia project increased by 10% in the quarter to 240 903 oz of gold while 25 462 t of copper was produced in the fourth quarter. The Telfer mine, in Western Australia, produced 116 321 oz of gold and 3 332 t of copper over the same period, with gold production falling 4% on the March quarter as increased ore production and grade from the openpit were offset by reduced ore production and lower grades from the underground operation.
The Lihir operation, in Papua New Guinea, added 261 281 oz of gold in the quarter, a 10% increase on the previous quarter, while Gosowong, in Indonesia, produced 42 908 oz, down slightly from the 42 908 oz produced in the March quarter, as a result of lower ore grades.
Meanwhile, group all-in sustaining costs (AISC) for the full year reached record lows of $738/oz, down 12% on the previous financial year, while group AISC for the June quarter was $26/oz higher compared with the March quarter, at $589/oz.
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