Monday, 30th April 2007 (2093 views)

With the solitary exception of the Telfer mine, Newcrest Mining has announced that it is set to see a rise in gold production at every single mine up to the financial year 2007.

Between last year's financial year and this one's, Australian company Newcrest is bracing itself for increased performance across the board apart from Telfer which will see its gold production lower by around 55,000 to 80,000 ounces.

This equates to a revised figure of some 620,000 ounces for the 2006/7 financial year, as opposed to the previously forecasted figure of between 675,000 and 700,000 ounces.

The underlying factor attributed to Telfer's decreased performance was said to be the adverse weather conditions that affected production levels in March and April this year, with heavy rainfall being detrimental to operations.

Meanwhile, Ridgeway mine had its gold production estimate rise to 350,000 ounces, up by 10,000 ounces. Newcrest also saw a total rise of 1.5 per cent to the first quarter's production total of just over 390,000 ounces for all five of its mines, compared with the corresponding period last year.

 

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