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Newcrest reports increase in gold production

 NEWCREST has reported an increase in gold production during the December quarter which it attributes to increased output at its Lihir (New Ireland) and Telfer (Australia) mines.
“The increase in gold production during the December 2015 quarter was primarily driven by increased output at Lihir and Telfer, partially offset by lower production from Cadia (its mine in Australia) following a five-week outage caused by a previously announced issue with the Concentrator 1 SAG mill motor,” the company stated in its December quarterly report.
The company said the Group All-In Sustaining Cost (AISC) per ounce improved 3.6 per cent to USD757/ounce, driven by Lihir lowering its AISC by 19 per cent to USD803 per ounces.
“This reduction in Group AISC per ounce was achieved notwithstanding an increase in Cadia’s AISC per ounce as a consequence of the SAG mill outage and lower copper by-product credits due to lower copper prices,” it said.
Newcrest managing director and chief executive officer Sandeep Biswas said: “We have had a good quarter in which we maintained our strong focus on safe production, delivered an increase in gold production and lowered our All-In Sustaining Cost, despite operational challenges at our two largest mines in Cadia and Lihir.”
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