Newcrest cuts its forecast

NEWCREST Mining has cut its full-year gold output forecast, mainly on the back of a dam collapse which halted operations at its biggest and lowest-cost mine. The miner produced 575,791 ounces of gold in the three months to March 31, down 6 per cent from the previous quarter, mostly due to reduced production at its Cadia mine in NSW after a breach at the tailings dam.