Golden run for miner

NEWCREST Mining’s fourthquarter gold output has risen 15 per cent as a timely uptick in production at its flagship Cadia mine enabled it to meet production targets.

Australia’s largest listed gold miner yesterday said gold production for the three months to June 30 rose to 634,950 ounces from 551,815 ounces a year ago.

Gold production for the year fell 1 per cent to 2.35 million ounces, but was at the upper end of its target.

UBS had expected a 1 per cent lift in quarterly production.