Newcrest Mining gold production up 17.2 per cent

Company News

by Kathy Skantzos

Australia’s largest gold miner Newcrest Mining (ASX:NCM) has reported a 17.2 per cent increase in gold production for the December quarter.

The miner said its full year guidance for FY2018 remains unchanged and cash flow is expected to be positive in the first half of the FY2018 financial year.

Copper production also increased, up 34 per cent from the prior quarter.

Four of its mines all saw production increases at Cadia, Lihir, Bonikro and Telfer, which was partially offset by a decrease in production at Gosowong.
Four of its mines all saw production increases, which was partially offset by a decrease in production at just one of its mines.

Newcrest Managing Director and CEO Sandeep Biswas says Newcrest remains on track for production from continuing operations to be stronger in the second half of FY2018 after delivering a significantly improved quarter.

Shares in Newcrest Mining (ASX:NCM) are trading 1.98 per cent lower at $22.55.
 

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.