{"id":10205,"date":"2012-04-24T04:29:14","date_gmt":"2012-04-24T02:29:14","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/update-1-australias-newcrest-cuts-2012-gold-output-forecast\/"},"modified":"2012-04-24T04:29:14","modified_gmt":"2012-04-24T02:29:14","slug":"update-1-australias-newcrest-cuts-2012-gold-output-forecast","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-australias-newcrest-cuts-2012-gold-output-forecast\/","title":{"rendered":"UPDATE 1-Australia&#8217;s Newcrest cuts 2012 gold output forecast"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>(Adds details)<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* World no. 3 gold miner Newcrest cuts fiscal 2012 output<br \/>\nguidance<\/p>\n<p><span><\/span><\/p>\n<p>* Major mines in Papua New Guinea, Australia struggle to hit<br \/>\noutput targets<\/p>\n<p><span><\/span><\/p>\n<p>* Cites under-investment and heavy rains for revisions<\/p>\n<p><span><\/span><\/p>\n<p>* Says flagship Lihir mine to yield 700,000-900,000\/oz in<br \/>\nFY2013<\/p>\n<p><span><\/span><\/p>\n<p>SYDNEY, April 24 (Reuters) &#8211;    Newcrest Mining,<br \/>\nthe world&#8217;s No.3 gold miner, on Tuesday cut its production<br \/>\nforecast for this year, saying its major projects had struggled<br \/>\nto reach output targets.<\/p>\n<p><span><\/span><\/p>\n<p>Newcrest said its Cadia East development in Australia had<br \/>\nbeen impaired by heavy rains, while long-term under-investment<br \/>\nin equipment maintenance at a gold processing plant at its Lihir<br \/>\nmine in Papua New Guinea led to production disruptions.<\/p>\n<p><span><\/span><\/p>\n<p>Newcrest cut its fiscal 2012 production guidance to 2.25-2.35<br \/>\nmillion ounces of gold from earlier, already lowered, guidance<br \/>\nof 2.43-2.55 million ounces.<\/p>\n<p><span><\/span><\/p>\n<p>For the March quarter, Newcrest reported an 8 percent drop in<br \/>\np roduction t o 532,237 ounces of gold against the previous<br \/>\nquarter b u t s aid cash margins remained robust at $A9 7 8 an ounce<br \/>\nag ainst costs of A$609 an ounce.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Adds details) * World no. 3 gold miner Newcrest cuts fiscal 2012 output guidance * Major mines in Papua New Guinea, Australia struggle to hit output targets * Cites under-investment and heavy rains for revisions * Says flagship Lihir mine to yield 700,000-900,000\/oz in FY2013 SYDNEY, April 24 (Reuters) &#8211; Newcrest Mining, the world&#8217;s No.3 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-10205","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=10205"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10205\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}