Newcrest sticks to gold guidance forecast

Newcrest Mining is anticipating gold production to be in the upper echelons of guidance figures provided this financial year.

The miner told investors its December quarter’s production performance was strong, delivering 621,125 ounces of gold and 22,603 tonnes of copper.

Newcrest said it is maintaining its guidance for gold and copper production, expecting to produce about 2.3million ounces of gold by the end of this financial year, subject to market and operating conditions.

In October the company recorded back-to-back quarters of declining gold and copper production.

Quarterly gold production for September fell nine per cent below the June quarter’s results to 586,573 ounces, while copper dropped 14 per cent to 19,632 tonnes for the same period.

Newcrest said it anticipates releasing its December 2013 quarter results on January 23.

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