Member access

4-Traders Homepage  >  Shares  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Newcrest Mining Limited    NCM   AU000000NCM7

End-of-day quote. End-of-day quote AUSTRALIAN SECURITIES EXCHANGE LIMITED - 09/19
10.03 AUD   -2.24%
09/03 Analysis - Cost-cuts put gold miners between rock and a hard place
08/28 DRILLSEARCH ENERGY : appoints General Counsel
08/27DJEvolution Mining Returns to Profit as Gold Output Rises
SummaryQuotesChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 

Newcrest Mining Limited : Newcrest Mining Cuts Its Full-Year Gold Production Guidance

04/23/2012 | 07:28pm US/Eastern
Recommend:
0

Newcrest Mining Ltd. (NCM.AU, NCMGY, NM.T), Australia's largest producer of gold, again cut its output target for the financial year Tuesday following heavy rains and production disruptions at key operations.

Gold production for the year through June is now expected to be between 2.25 million and 2.35 million ounces, rather than the 2.43 million to 2.55 million previously forecast, the Melbourne company said. It also reduced its guidance for annual copper production to a range of 70,000 to 75,000 metric tons from the 75,000 to 80,000 tons previously forecast.

Newcrest said it produced 532,237 ounces of gold and 18,072 tons of copper in the March quarter, down 12% and 10% respectively year-on-year.

The gold producer in February warned its production target for the year was at risk due to continuing disruptions to its Lihir mining operations in Papua New Guinea.

The production forecast was cut in December from an August estimate of a rise in output to as much as 2.925 million ounces. Newcrest produced 2.7 million ounces in the last financial year, assuming a full year of output from Lihir Gold Ltd., which it bought for roughly A$9.5 billion (US$9.8 billion) in a deal that became effective in August 2010.

Newcrest operates eight mines in Australia, Indonesia, Ivory Coast and Papua New Guinea.

-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094; robb.stewart@dowjones.com

Recommend :
0
React to this article
Latest news on NEWCREST MINING LIMITED
09/03 Analysis - Cost-cuts put gold miners between rock and a hard place
08/28 DRILLSEARCH ENERGY : appoints General Counsel
08/27DJEvolution Mining Returns to Profit as Gold Output Rises
08/21 NEWCREST MINING : Posts Financial Results
08/18 NEWCREST MINING : Financial Results for the 12 months ending 30 June 2014
07/29DJAustralian Gold Miner Regis Expects Fiscal Year Loss Amid Writedowns
07/24DJAustralia Shares Hit Fresh Six-Year High, Helped by China Data
07/24 NEWCREST MINING : Expected asset impairment
07/21DJNEWCREST MINING : Investors Pursue Class Action Over Newcrest Disclosure Breach
07/09DJNEWCREST MINING : Executive to Lead Gold Miner Kingsgate -Update
Advertisement
Chart
Duration : Period :
Newcrest Mining Limited Technical Analysis Chart | NCM | AU000000NCM7 | 4-Traders
Income Statement Evolution
Newcrest Mining Limited : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF