This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Newcrest Mining Limited - Quarterly Report For The Three Months Ending 31 March 2013

MELBOURNE, Australia, April 22, 2013 /CNW/ - Newcrest Mining Limited ("the Company") (ASX: NCM) (TSX: NM) is pleased to announce its quarterly report for the period ended 31 March 2013.

Overview

Newcrest's production for the March 2013 quarter was 514,421 ounces of gold and 19,023 tonnes of copper at a cash cost of $799 per ounce and a cash margin of $785 per ounce. Gold production was 4% higher than achieved in the December 2012 quarter.

The new and expanded operations at Cadia East and Lihir performed to plan in the March 2013 quarter. The Cadia East mine operated as expected and during the quarter the second phase primary crusher was commissioned on time. At Lihir, the new plant performed as expected and, importantly, the new autoclave performance achieved nameplate capacity.

Quarterly production was adversely impacted at both Lihir and Gosowong, as discussed in the 28 March 2013 release. At Lihir the repair of Autoclave 1 is now complete and at Gosowong access to the higher grade ore zones has been re-established.

Exploration results at Telfer, Gosowong, Côte d'Ivoire and Wafi-Golpu were encouraging. These programs will continue to be the focus of the next six months of drilling activity.

The Cadia East Lift 2 project is progressing well and remains on track for completion in the 2014 financial year. The flotation upgrade and NCA refurbishment projects at Lihir are also progressing in line with plan and will be completed in the second half of the 2013 calendar year.  Completion and commissioning of the Hidden Valley primary crusher is expected in May 2013.

Newcrest's project study effort remains focused on Wafi-Golpu. Good drilling results and better metallurgical recoveries continue to improve the project economics for Golpu. Work by the Golpu study team is targeted at achieving a lower cost approach to first production.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,654.77 +369.26 2.27%
S&P 500 1,987.66 +47.15 2.43%
NASDAQ 4,812.7080 +115.1720 2.45%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs