Newcrest June quarter gold output lower

Newcrest Mining has posted a 13 per cent drop in fourth quarter gold output, hurt by lower contribution from both its flagship Cadia mine in New South Wales and the Lihir mine in Papua New Guinea.

Australia’s biggest listed gold miner said gold production fell to 573,175 ounces in the three months ended June 30, down from 661,414 ounces a year ago.

However, the figure was enough to help Newcrest achieve the lower end of its full-year production guidance, with total output of 2.17 million ounces in the 12 months to June.

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