This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

Newcrest Mining Limited - Quarterly Report For The Three Months Eended 30 June 2013

Stocks in this article: NM

MELBOURNE, Victoria, July 25, 2013 /CNW/ - Newcrest Mining Limited (Newcrest) (ASX:NCM) (TSX: NM) is pleased to announce its quarterly report for the three months ended 30 June 2013 (these figures are unaudited*)

Overview

Newcrest's production for the 2013 financial year was 2,109,784 ounces of gold and 80,366 tonnes of copper at a cash cost of A$750 per ounce and total cost of A$1,040 per ounce, following production in the June 2013 quarter of 642,032 ounces of gold and 22,818 tonnes of copper.

The production performance for the June 2013 quarter represents a 25% increase in gold production and a 20% increase in copper production over the March 2013 quarter.  This increase was principally driven by increased plant capacity at Lihir, the ongoing ramp-up of the Cadia East panel cave, and mining of higher grade stopes at Gosowong.

At Cadia Valley, Cadia East continued to perform in line with the Company's expectations. Panel Cave 1 produced at an annualised rate of 5.4Mtpa for the June 2013 quarter.  The development of Panel Cave 2 continued in line with the Company's expectations.  Ridgeway ore production was maintained at a rate of 8Mtpa.

At Lihir, the plant performed in line with the Company's expectations during the June 2013 quarter. The projects to expand flotation capacity and to refurbish the Neutralisation Cyanidation Adsorption (NCA) circuit were both completed in the June 2013 quarter.  Increased production at Gosowong and Telfer during the June 2013 quarter was primarily associated with higher gold grades. At Hidden Valley, the crusher at the front of the overland conveyor commenced commissioning.

Exploration continued during the June 2013 quarter with positive drilling results at Gosowong, Telfer and Wafi Golpu.

As announced in previous Company releases, Newcrest is focused on maximising free cash flow and production outcomes will reflect the Company operating in this manner. Newcrest has responded to the current market environment by reducing the production of high cost ounces, operating and corporate costs, capital expenditure and exploration activities.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,386.50 -292.20 -1.65%
S&P 500 2,042.99 -14.10 -0.69%
NASDAQ 4,698.2940 -73.4690 -1.54%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs