• PNG Business News

Newcrest hits gold production targets in June quarter 2019

Newcrest Gold production for the June quarter 2019 was six percent higher than the previous quarter, driven by its Cadia and Lihir operations.

Managing director and chief executive Sandeep Biswas was quoted saying: ‘Newcrest had a strong fourth quarter enabling us to meet our group production and cost guidance.”

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 it 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.

It recorded an annualised mill throughput rate of 15.9 mtpa during the quarter, achieving its target of 15mtpa sustainable mill throughput rate by end of June 2019.

Meanwhile Mr Biswas said Newcrest continued the search for new discoveries during the June quarter with green field exploration activity undertaken in Australia, PNG, Indonesia, USA, Argentina, Ecuador and Chile.

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