Newcrest Mining Ltd (ASX:NCM) has downgraded its full-year guidance for gold production.
The gold mining operator produced 604,791 ounces of gold during the three months to march 31, which was a significant drop from the previous quarter of 722,783.
Flooding and the suspension of operations at its Bonikro mine have been blamed for the 16 per cent drop.
Newcrest Mining more than doubled its first half earning, reporting a net profit of $466 million in the six months to December 31, 2010.
