Newcrest: Hard work pays off

Business

NEWCREST Mining Limited managing director and chief executive Sandeep Biswas has praised its Lihir’s performance this quarter – a record for a quarterly mill throughput rate and gold production.
He said in the company’s June quarterly report released on Tuesday that this was a testament to the hard work and relentless drive for improvement that Newcrest strove for at all its sites.
According to the report, production from Lihir increased significantly, achieving record quarterly gold production of 276koz due to a record mill throughput rate result of 14.5mtpa.
Meanwhile, given the disruption to production at Cadia in Australia because of the seismic event, the overall performance during the quarter was remarkable and demonstrated the resilience of Newcrest’s assets, it said.
“I’m proud of the work of the Cadia team to safely restart mining at Cadia, with all the work having been completed to a standard consistent with Newcrest’s emphasis on safe, strong and sustainable operations,” Biswas said.
Newcrest’s safety transformation remains focused on eliminating fatalities and life-changing injuries and pleasingly there were no fatalities in the 2017 financial year.
Newcrest’s June quarter total recordable injury frequency rate of 2.1 per million man-hours was Newcrest’s best quarterly result since June 2014.
Gold production in the June 2017 quarter was 7.8 per cent lower than the prior quarter driven by a decrease in production from Cadia, following the seismic event on April 14 this year.

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