Newcrest Mining has reported a strong first quarter following planned maintenance work, and is on track to meet annual guidance.
The company produced 527 kilo ounces of gold and 32 kilo tonnes of copper, at an All-In Sustaining Cost $1098/oz.
With an advancing pipeline of organic gold and copper growth options, production of both minerals is expected to increase in the December 2022 quarter.
The results were veiled by a fatality at the company’s Brucejack underground mine in Canada.
Newcrest managing director Sandeep Biswas said there was nothing more important than the safety and wellbeing of those who worked with the company, and its focus was on providing support to all those impacted during this distressing time as investigations continued.
“While overshadowed by the upsetting news from Brucejack, Newcrest delivered a solid performance during the September quarter which reflected our normal cadence for planned major maintenance shutdowns across our operations during this period,” he said.
“Our group gold and copper production has increased substantially from a year ago, reflecting maintenance and productivity improvements at Cadia (NSW) and Lihir (PNG), and additional ounces from Brucejack.
“Cadia marked further significant milestones with the first draw bell for the PC2-3 block cave successfully fired to enable the commencement of undercutting and completion of the two stage plant expansion which is now in commissioning.
“We remain relentlessly focused on disciplined capital management as we extend the Havieron (WA) feasibility study to allow time for further project optimisation.”