Gold miner Newcrest Mining Ltd
(ASX:NCM) has reported a rise in production in the September quarter thanks to its merger with Lihir Gold earlier this year.
For the three months to September 30, 2010, the miner produced 674,219 ounces of gold, up from 526,131 ounces the previous quarter and almost 80 per cent higher than the September quarter in 2009.
Newcrest says the increased production is a result of the merger between itself and Lihir Gold.
Copper output fell however, down 16.9 per cent compared to the same time last year and a 15 per cent drop from the previous quarter.
The gold miner says the lower copper production reflected lower feed grade and mill throughput.
Looking ahead Newcrest says gold production for the 2011 fiscal year is expected to be within the range of 2.85 to 3 million ounces from the combined entity.
Newcrest earned $602.4 million for the 12 months to June 30, 2010.
