Newcrest (ASX:NCM) on track to deliver FY22 guidance

Company News

by Lauren Evans

Newcrest Mining said its gold production climbed 10 per cent in the December quarter mainly driven by higher mill throughput rates. 

The gold miner said they are on track to deliver its financial year 2022 production guidance of between 1800 and 2000/koz of gold.

The average realised gold price for the December quarter climbed $US20 to $US1743 per ounce, versus the September quarter. The average realised copper price also climbed to $US4.37/lb, versus $US4.24/lb in the September quarter.

“We maintained a strong operational focus on maintenance and productivity improvements during the quarter. It was a tremendous achievement for our team to safely complete the replacement and upgrade of the SAG mill motor at Cadia, which is now operating at full capacity," said chief executive officer Sandeep Biswas.

"Across all our operations, we are well positioned for a strong second half and remain on track to meet our FY22 guidance.”

Shares in Newcrest Mining are trading (ASX:NCM) are down 6.7 per cent to $21.42.

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