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Newcrest says annual gold output at flagship mine beat forecast - GASSECTOR.com

Newcrest says annual gold output at flagship mine beat forecast

The mine, however, will see costs rise and production of gold and copper fall over the next 19 weeks as Newcrest replaces a mill motor. Its Concentrator 1 will be operating at around 60% of normal capacity.

Australia’s biggest listed gold miner said total production fell to 542,332 ounces in the June quarter from 573,175 ounces a year ago. That, however, beat an RBC Capital Markets estimate of around 531,000 ounces.

Lihir is undergoing unplanned downtime in the autoclaves, while scheduled maintenance planned for the September quarter has also been brought forward

(By Soumyajit Saha and Nikhil Kurian Nainan; Editing by Devika Syamnath)

READ MORE: https://www.mining.com/web/newcrest-says-annual-gold-output-at-flagship-mine-beat-forecast/