Gold mine’s output down
NEWCREST Mining has posted a 2.4 per cent drop in full- year gold production driven by lower output at its Cadia mine in NSW, which was shut after an earthquake in April.
Australia’s biggest gold miner says gold production in the year to June 30 fell to 2.38 million ounces, with its June quarter output sinking 7.8 per cent from the prior quarter, to 551,815 ounces.
Cadia – Newcrest’s biggest and lowest- cost mine – was hit by a magnitude 4.3 earthquake in central west NSW in early April, prompting the suspension of operations.
The company says the suspension of mining activities at Cadia had resulted in June quarter gold production at the mine more than halving from the March quarter level, to 76,552 ounces.