Tuesday, 24th July 2007 (1859 views)

Gold mining company Newcrest has reported an increase in its gold output in its fourth-quarter results.

The company's gold output rose by 15 per cent to a record level following excellent high-grade mining at its Telfer Mine.

Gold production was 463,170 ounces in the three months leading to June 30th, compared to the 401,742 ounces mined in the same period last year, the Australian gold miner revealed.

At the company's Ridgeway operation, gold production increased by 10 per cent thanks to better grades, improved recoveries and higher mill throughput.

Record gold production was achieved at the Gosowong region during this quarter with a 29 per cent increase in production as the result of an uplift in the grade of ore mined.

The overall percentage of gold production recovered as ore during the last 12 months was 37 per cent.

 

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