Newcrest Mining
(ASX:NCM) has reported gold production fell 2.4 per cent to 2.381 million ounces for the 2017 financial year, compared to the prior corresponding period.
Despite the fall in gold production for financial year ending 30 June 2017 and a 7.8 per cent fall on the quarter, compared to the prior corresponding periods, the miner actually saw record annual production at its Lihir gold mine.
Newcrest says it experienced the weaker results on the back of the seismic event at Cadia in western New South Wales.
The company says its overall performance for the quarter was remarkable and demonstrated Newcrest’s resilience in restarting mining.
Newcrest meantime reported its FY17 copper production rose 1 per cent, while it fell 41.1 per cent in the qurarter ending 30 June 2017.
Shares in Newcrest Mining
(ASX:NCM) are trading 1.48 per cent higher to $19.87.
