Australia’s biggest gold miner cuts guidance – again

Australia-listed Newcrest Mining cut its full-year gold production guidance to 2.7 million ounces from 2.82 million due to a power failure that disrupted operations at its Lihir mine in Papua New Guinea.

“Repair work in the power station has commenced and a phased return to full operating capacity is planned over the next three weeks,” the company said in a statement.