Newcrest Mining Limited
(ASX:NCM) has posted a 16 per cent jump in gold production for the fourth quarter, coming in at 700,124 ounces.
The mining company says gold output rose at each of its mine sites, while copper production came in slightly higher at 20,127 tonnes.
For the year gold production rose 53 per cent to 2.7 million ounces, in line with its forecast and underpinned by increased production and the company’s takeover of Lihir Gold Ltd.
Newcrest has also today increased its resource estimate at its Wafi-Golpu deposit in Papua New Guinea to more than one billion tonnes of ore.
In the first half of its 2011 financial year Newcrest Mining recorded a net profit of $466 million.
