Newcrest gold production increases in June quarter: Biswas
Gold production for Newcrest in the June quarter 2019 was six per cent higher than the prior quarter.
Managing director and chief executive officer Sandeep Biswas said: “Newcrest had a strong fourth quarter enabling us to meet our group production and cost guidance.”
Mr Biswas said the high percentage of gold production was driven from its Cadia and Lihir operations.
He said Cadia achieved a record annualised mill throughput rate of 31.7 million tons per annum (mtpa) for the quarter, contributing to Cadia achieving its highest ever gold and copper production annually and exceeding its production guidance range for the year.
Lihir delivered a 10 per cent increase in gold production.
This is compared to the prior quarter due to an increase in mill throughput, which also achieved the operation’s 15mtpa sustainable mill throughput rate target.
“The higher through put quarter-on-quarter also reflects that the March quarter was adversely impacted by planned shutdowns (including overruns).
“Plus unplanned outages.“Recovery rates in the June quarter of 74 per cent were lower than the prior quarter, primarily as a result of increased flotation due to the higher mill throughput, lower grade, an unplanned shutdown in one oxygen plant and a power supply interruption,” he said.
Mr Biswas said Lihir recorded an annualised mill throughput rate of 15.9mtpa during the quarter, achieving its target of a 15mtpa sustainable mill throughput rate by the end of June 2019.
Meanwhile, he said Newcrest continued the search for new discoveries during the June 2019 quarter with green field exploration activity undertaken in Australia, PNG, Indonesia, USA, Argentina, Ecuador and Chile.