- Write by:
-
Thursday, April 30, 2020 - 6:51:18 PM
-
333 Visit
-
Print
Mining News Pro - Newcrest Mining on Thursday reported a nearly 17% fall in third-quarter gold production, hurt by lower output at its Cadia and Telfer mines and divestment of its Indonesian mine during the three-month period.
According to Mining News Pro - The Australian miner said total gold production fell to 518,770 ounces in the three months ended March 31, from 623,124 ounces a year earlier. The figure missed the UBS estimate of 562,000 tonnes gold output for the period.
Cadia’s lower production in the quarter was in line with the company’s expectations and reflects planned maintenance shuts of both concentrators and lower grade ore feed to the mill, while production at Telfer was 6% lower than the prior quarter due to a reduction in underground ore mill feed.
This loss in production was offset by improvements at the Lihir and Red Chris mines, where gold output increased by 14% and 43%, respectively.
“Newcrest’s gold production in the quarter is in line with our expectations following the recent update to guidance and reflects the impacts of planned shuts at Cadia and Telfer and the divestment of Gosowong in March,” managing director and CEO Sandeep Biswas said in the media release.
The company added that production in the June quarter is expected to be higher than the March quarter due to a lower level of planned shutdown events across the portfolio.
Short Link:
https://www.miningnews.ir/En/News/522539
Zimbabwe’s President Emmerson Mnangagwa has re-appointed Winston Chitando as the southern African nation’s mines ...
China’s Zhaojin Mining Industry said on Wednesday that its A$733 million ($477.8 million) offer to buy Australia’s ...
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
A new report by IDTechEx states that investing in e-haul trucks could result in major savings for miners due to the ...
Gold’s record-setting rally this year has puzzled market watchers as bullion has roared higher despite headwinds that ...
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
Gold took a tumble as haven demand waned after geopolitical tensions eased in the Middle East.
Copper traded near $10,000 a ton, hitting a new two-year high on its way, as investors continue to pile in on a bet that ...
Adriatic Metals is taking over as the operator of the Rupice deposit development, which is part of the company’s Vares ...
No comments have been posted yet ...