Newcrest’s latest quarterly reports reveals the miner has strengthened Cadia’s position as Australia’s leading gold producer.
Gold production in the June 2019 quarter was 6% higher than the prior quarter, driven by higher production from Cadia and Lihir. Cadia achieved a record annualised mill throughput rate of 31.7 million tonnes per annum (mtpa) for the quarter, contributing to Cadia achieving its highest ever gold and copper production annually and exceeding its production guidance range for the year.
Lihir delivered a 10% increase in gold production compared to the prior quarter due to an increase in mill throughput, which also achieved the operation’s 15mtpa sustainable mill throughput rate target.
Telfer and Gosowong gold production was lower than the prior quarter primarily due to lower grade. Year-on-year, total gold production was 6% higher than that achieved in FY18.
Newcrest Managing Director and Chief Executive Officer, Sandeep Biswas, commented: “Newcrest had a strong fourth quarter enabling us to meet our Group production and cost guidance. Cadia delivered a quarterly and annual gold production record, exceeding the top end of its production guidance range.
Our focus on safe production and operational discipline has culminated in a further reduction in injury rates and a record low Group All-In Sustaining Cost per ounce for the quarter and the year.”
Newcrest finished off the 2019 financial year with quarterly and annual gold production records at Cadia. The company produced 240,903 ounces of gold at Cadia during the June quarter, giving it 2019 financial year output of 912,777 ounces at the mine.