(Kitco News) - Newcrest Mining (TSX: NCM), a senior global gold producer, announced today that during the September 2022 quarter, the company produced 527koz of gold and 32kt of copper, and remains on track to meet FY23 guidance.
The company said that gold production was 17% lower and copper production was 16% lower than the prior period with lower mill throughput across all operations following planned maintenance shutdowns in the September 2022 quarter, consistent with prior years.
Newcrest noted that gold production was also impacted by lower gold head grade at Lihir, Cadia and Brucejack, adding that gold and copper production is expected to improve in the December 2022 quarter on lower planned maintenance.
Newcrest’s all-in sustaining costs of $1,098/oz for the quarter were 23% higher than the prior period, driven by lower gold and copper sales volumes with lower production following planned maintenance, and a lower realized copper price.
Newcrest is the largest gold producer listed on the Australian Securities Exchange and one of the world's largest gold mining companies.
Newcrest owns and operates a portfolio of operating mines and exploration projects located in Australia, Canada and Papua New Guinea. The company's current gold reserves represent more than 24 years of production at current rates.
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