Newcrest Mining Limited
(ASX:NCM) has maintained its full year guidance for output and capital expenditure despite posting a fall in first quarter production.
The miners gold output dropped 21.6 per cent in the September quarter while copper output fell 3.3 per cent from the year before.
Despite the production dips, Newcrest expects gold production is to progressively increase throughout the remainder of the financial year.
The company says major project expansions at Cadia Valley and Lihir are both nearing completion.
Newcrest Mining recorded a net profit of $1.2 billion in the 2012 financial year.
