Australia’s Newcrest Mining posts 8% rise in Q3 gold output

The Cadia Valley operation in New South Wales was 2018’s top producing mine, dethroning Newmont’s Boddington operation in WA. (Image courtesy of Newcrest Mining)

Australia’s Newcrest Mining Ltd on Tuesday reported a 8 percent rise in third-quarter gold output, but was lower than the preceding quarter, hurt by lower production at its flagship Cadia mine.

The country’s largest independent gold miner’s total gold production for the three months to March 31, came in at 623,124 ounces compared with 575,791 ounces a year ago. However, it marks a near 5 percent decline from the December quarter.

The miner maintained its fiscal 2019 gold production guidance, saying it expects production at the mid-point of its 2.4 million ounces to 2.6 million ounces guidance range.

(By Aby Jose Koilparambil and Nikhil Kurian Nainan; Editing by Lisa Shumaker)

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