⁍ The company also said it expects both gold and copper production to increase in the second quarter.
⁍ Newcrest’s gold production fell to 503,089 ounces in the three months ended Sept. 30, from 511,636 ounces a year ago.
– Australia’s No. 1 gold producer saw its gold production fall 1.7% in the three months ending Sept. 30, with lower output from its Lihir and Cadia mines, reports Reuters. However, the figure came slightly ahead of brokerage UBS’s production estimate of 501,000 ounces. The company said it expects to re-engage with Papua New Guinea and progress discussions on a special mining lease for the Wafi-Golpu Project. Earlier this month, the miner approved the second-stage expansion of its flagship Cadia gold mine as well as the Lihir mine’s front-end recovery project, aimed at boosting gold production while it remains entangled in a tiff surrounding royalty division for Wafi-Golpu.
Source: https://www.reuters.com/article/newcrest-output-int/newcrest-first-quarter-gold-output-falls-on-track-to-meet-2021-guidance-idUSKBN27D36H