Newcrest records low production

NEWCREST Mining Limited’s gold production for the March quarter was slightly lower than the previous quarter, according to its report for period ending March 31.
According to the report, production from Cadia, Australia, was lower during the quarter as Newcrest proactively managed cave draw from Panel Cave 2 to evenly propagate the cave and optimise the cave shape.
Production at Telfer, Australia, was also lower primarily due to record rainfall in January.
This was communicated to the market on January 30 this year.
This was partially offset by increased production at Gosowong, Indonesia.
The group AISC (all-in sustaining cost) per ounce for the March quarter of $713 (K1,689) per ounce was 5.1 per cent lower than in the prior quarter, driven by decreases in AISC per ounce at all sites except Telfer.
Lihir’s gold production was up 1 per cent as lower milling throughput was offset by higher head grade and slightly higher recovery rates.
Lihir’s all-in sustaining cost decreased $61 (K144) per ounce to $822 (K1,953) per ounce for the March quarter due to the higher production volume,
An increase in average head grade, slight increase in recovery rates and lower material movement partially offset by higher sustaining capital.
According to the report, the Wafi-Golpu joint venture parties continued to progress activity in line with the forward work plan previously communicated.
It included engagement with the Government on the application for a special mining lease for the Wafi-Golpu project.