Newcrest Mining remains confident about Cadia

Gold production in the June 2017 quarter stood at 7.8% lower than the prior quarter driven by a decrease in production from Cadia, following the seismic event on 14 April 2017, while production from Lihir increased significantly, achieving record quarterly gold production of 276koz due to a record mill throughput rate result of 14.5mtpa. Production at Telfer was also higher than the prior quarter following the rainfall events experienced in the March 2017 quarter. The Group AISC per ounce for the June quarter of $902 per ounce, after normalization for the Cadia seismic event, was 26.5% higher than the prior quarter. This was driven by higher AISC at Cadia, Gosowong and Bonikro, partially offset by lower AISC at Lihir and Telfer. The reported Group AISC for the full year has been normalized (i.e. reduced) by $28 per ounce for the seismic event at Cadia, in line with World Gold Council guidelines.   

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