Newcrest Mining

Equities

NCM

AU000000NCM7

Market Closed - Australian S.E. Other stock markets 01:10:49 2023-10-26 am EDT			5-day change	1st Jan Change
23.35 ^AUD	-1.27%		-.--%	-.--%

2023	National Bank of Canada Reduces Newmont's Price Target	MT
2023	Newmont Completes Newcrest Mining Acquisition	MT

Newcrest quarterly gold output falls 17% sequentially on planned shutdowns

October 26, 2022 at 06:03 pm EDT

Oct 27 (Reuters) - Australia's Newcrest Mining on Thursday reported a 17% sequential drop in first-quarter gold production, hurt by planned maintenance shutdowns at its mines, but said a rebound in the December quarter would help it meet its annual forecast.

The country's largest gold miner said output from its key Cadia mine in New South Wales and the Lihir mine in Papua New Guinea slipped by more than a fifth each in the quarter.

The company said weather also played spoilsport at Lihir as the La Niña weather pattern in the Pacific led to drought conditions that limited water supply and restricted plant throughput.

Total production of the precious metal fell to 527,115 ounces (oz) in the three months to September as a result, compared with 637,032 oz in the June quarter and a UBS estimate of 557,000 oz.

The company's quarterly copper output declined to 32,459 tonnes from 38,671 tonnes in the June quarter.

"We expect gold and copper production to be higher in the December quarter on lower planned maintenance and remain on track to meet fiscal 2023 guidance," Chief Executive Officer Sandeep Biswas said.

Gold miners have already had a volatile 2022, as bullion prices were swayed by global central banks raising interest rates and the fallout of the Russia-Ukraine crisis. (Reporting by Shashwat Awasthi and Archishma Iyer; Editing by Devika Syamnath and Anil D'Silva)

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
GOLD	2,338 USD	+0.09%	-2.05%	-
S&P GSCI GOLD INDEX	1,370 PTS	+0.26%	+0.29%	-
S&P GSCI SILVER INDEX	1,349 PTS	+0.36%	+0.33%	-
US DOLLAR / RUSSIAN ROUBLE	93.47 RUB	+1.48%	+0.29%	-
SILVER	27.28 USD	+0.28%	-4.50%	-

Latest news about Newcrest Mining

National Bank of Canada Reduces Newmont's Price Target	Nov. 07	MT
Newmont Completes Newcrest Mining Acquisition	Nov. 06	MT
Materials Down as Dollar Recoups Some Losses -- Materials Roundup	Nov. 06	DJ
China firm launches stock indices to tap into rush for safe-haven gold	Nov. 01	RE
Newcrest Mining Limited(ASX:NCM) dropped from FTSE All-World Index	23-10-27	CI
Materials Up After Strong 3Q GDP Reading -- Materials Roundup	23-10-26	DJ
Newmont's Q3 Adjusted EPS Rises YOY, Revises 2023 Production Outlook; National Bank Says Results Missed Estimates	23-10-26	MT
Newmont 3Q Net Earnings Down, Sees Newcrest Deal Closing Nov 6	23-10-26	DJ
Newmont's Q3 Adjusted EPS Rises YOY, Revises 2023 Production Outlook	23-10-26	MT
Newmont Brief: Says "Remains on Track" to Close the Pending Acquisition of Newcrest	23-10-26	MT
Newmont Brief: Q3 Adjusted net income per share ($/diluted share) US$0.36; Declaring $0.40 Dividend;	23-10-26	MT
Australian shares give up early gains as inflation data raises rate-hike odds	23-10-25	RE
Newmont Brief: All regulatory, shareholder and legal approvals for Proposed acquisition of Newcrest by Newmont have been secured; Cos Expect Transaction to close in early November	23-10-18	MT
Newmont Corporation completed the acquisition of Newcrest Mining Limited from State Street Corporation, BlackRock, Inc., The Vanguard Group, Inc., Allan Gray Australia Pty Ltd. and others.	23-10-17	CI
Newmont Corporation completed the acquisition of Newcrest Mining Limited from State Street Corporation, BlackRock, Inc., The Vanguard Group, Inc., Allan Gray Australia Pty Ltd. and others.	23-10-17	CI
RBC Capital Markets Says Newcrest's Fiscal Q1 Production Below Estimates	23-10-17	MT
Progress continues at Greatland Gold's Havieron project	23-10-17	AN
Australian Federal Court OKs Newmont Acquisition of Newcrest Mining	23-10-17	MT
Gold stalls as investors focus on Powell's speech	23-10-16	RE
Australian shares gain ahead of RBA minutes, Rio Tinto jumps	23-10-16	RE
Australian miner Newcrest's quarterly gold output falls on maintenance shutdowns	23-10-16	RE
Newmont Announces End of Strike at Penasquito Mine in Mexico	23-10-16	MT
Newmont Brief: Announcing End of Strike at Penasquito Mine in Mexico	23-10-16	MT
Australian shares inch lower as banks, tech stocks drag	23-10-15	RE
Newcrest Mining Shareholders Approve Proposed Acquisition by Newmont	23-10-13	MT

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Company Profile

Newcrest Mining Limited is an Australia-based mining company. The Company's principal activities are exploration, mine development, mine operations and the sale of gold and gold/copper concentrate. The Company owns and operates a portfolio of brownfields and greenfields exploration projects. The Company's assets include Brucejack, Cadia, Havieron, Lihir, Red Chris, Telfer and Wafi-Golpu. The Brucejack asset is located approximately 950 kilometers (km) from Vancouver, Canada. The Cadia asset is located approximately 25 km from Orange, New South Wales (NSW). The Havieron asset is located approximately 45 km east of Telfer. The Lihir asset is located on the Niolam Island, approximately 900 km from Port Moresby, Papua New Guinea (PNG). The Red Chris asset is located approximately 1,700 km from Vancouver, Canada. The Telfer asset is located approximately 400 km from Port Hedland, WA. The Wafi-Golpu asset is located approximately 65 km from the city of Lae, PNG.

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