Maintenance and low grades has seen NewcrestMining production fall in the Sept quarter gold mining resources Australia Canada
PERTH – Gold major Newcrest Mining has reported a 17% drop in gold production for the three months to September, compared with the June quarter, on the back of planned maintenance shutdowns and lower grades.
Gold production at Telfer, in Western Australia, was down 13% on the June quarter, from 97 443 oz to 84 372 oz, driven by lower mill throughput owing to planned maintenance shutdowns, while Red Chris, in Canada, reported a 10% drop in gold production, from 13 678 oz to 12 259 oz, owing to lower recovery resulting from circuit instability, as well as lower mill throughput with the primary crusher undergoing planned maintenance.
“This week a colleague and team member from our mining and development contractor, Procon, was involved in a critical incident while working underground at our Brucejack operation.
Meanwhile, Newcrest’s all-in sustaining cost of $1 098/oz for the quarter was 23% higher than the prior period, driven by lower gold and copper sales volumes with lower production following planned maintenance, and a lower realised copper price. This was partly offset by the benefit of a weakening Australian and Canadian dollar against the US dollar on operating costs.
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