By David Winning

SYDNEY--Newcrest Mining Ltd. forecast another quarterly improvement in production and said it was on track to achieve annual guidance.

Newcrest reported output of 436,085 troy ounces of gold in the three months through December, bringing first-half production to 832,298 ounces. The company is targeting annual output of between 1.8 million and 2.0 million ounces.

Newcrest said it also dug up 26,418 metric tons of copper and 187,677 ounces of silver in its fiscal second quarter.

"It was a tremendous achievement for our team to safely complete the replacement and upgrade of the SAG mill motor at Cadia, which is now operating at full capacity," said Chief Executive Sandeep Biswas. "Across all our operations, we are well positioned for a strong second half and remain on track to meet our FY 2022 guidance."

Still, Newcrest said gold output from its Lihir mine in Papua New Guinea would likely to be at the lower end of prior guidance of 700,000-800,000 ounces.


Write to David Winning at david.winning@wsj.com


(END) Dow Jones Newswires

01-27-22 1737ET