Newcrest boosts gold and copper production

Newcrest Mining (ASX:NCM), the Australian Stock Exchange's largest gold producer, says it has boosted gold and copper production during the latest quarter, putting 2014 output on track to reach the top end of the guidance range – 2.3 million ounces.

During the three months leading to December 2013, the company produced more than 600,000 ounces of gold and 22,600 tonnes of copper.

During the preceding quarter, gold production was 586,000 ounces of gold and 19,600 tonnes of copper.

The production boost comes from the Telfer, Gosowong and Bonikro mines. Total output is still slightly lower than June 2013 numbers.

Newcrest said it would release further results and details on January 23.

The miner's share price was up 3% on Wednesday, trading at $8.53 apiece. Newcrest has fallen sharply over the past 12 months, losing more than 60% of its value since January 2013.