SYDNEY, July 26 (Reuters) – Newcrest Mining, the
world’s No.3 gold producer, on Thursday met its revised
full-year production guidance, which was lowered in April after
the company said it was struggling to meet targets.
Newcrest said cash margins remained strong at A$970
($1,000)per ounce and cash costs were slightly below its
guidance.
For the June quarter, Newcrest reported a 16 percent fall in
production to 587,310 ounces of gold, taking fiscal 2012 output
to 2.286 million ounces.
Output of 163,059 ounces from its flagship Lihir mine in
Papua New Guinea was near the middle of company guidance of
150,000-180,000 ounces for the June quarter.
JP Morgan had forecast Newcrest would produce 2.29 million
ounces for the year, with the Lihir mine yielding 152,000 ounces
in the June quarter.
($1 = 0.9743 Australian dollars)
(Reporting by James Regan; Editing by Richard Pullin)
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