Cadia stars for Newcrest

A BIG jump in production and record low costs at Cadia drove Newcrest Mining to a strong December quarter.

Cadia stars for Newcrest Cadia stars for Newcrest Cadia stars for Newcrest Cadia stars for Newcrest Cadia stars for Newcrest

Group gold production of 613,000 ounces was up 17.2% over the September quarter, while copper production of 22,000 tonnes was a 33.8% jump.

All-in sustaining costs dropped by US$69 to $829 an ounce, with group AISC margin increasing by 13.1% to $459/oz.

The strong result was driven by a 50% jump in production at Cadia to 180,223oz and a record low AISC of $129/oz.

Production was also higher at Lihir, Bonikro and Telfer, but lower at Gosowong.

At Gosowong, the company said the Indonesian government had not approved the 2018 work plan and budget, and negotiations indicated the existing Contract of Work may need to be amended before approval is granted.