{"id":1181459,"date":"2020-04-29T18:12:37","date_gmt":"2020-04-29T23:12:37","guid":{"rendered":"https:\/\/www.mining.com\/?p=1022256"},"modified":"2020-04-29T18:12:37","modified_gmt":"2020-04-29T23:12:37","slug":"newcrest-quarterly-output-declines-almost-17","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1181459","title":{"rendered":"Newcrest quarterly output declines almost 17%"},"content":{"rendered":"<p>Newcrest Mining (ASX: NCM) on Thursday <a aria-label=\"reported a nearly 17% (opens in a new tab)\" href=\"https:\/\/www.newcrest.com\/sites\/default\/files\/2020-04\/200430_Newcrest%20Mar%2020%20Quarterly%20Report%20-%20Market%20Release%20.pdf\"  rel=\"noreferrer noopener\">reported a nearly 17%<\/a> fall in third quarter gold production, hurt by lower production at its Cadia and Telfer mines and divestment of its Indonesian mine during the three-month period.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The Australian miner said total gold production fell to 518,770 ounces in the three months ended March 31, from 623,124 ounces a year earlier. The figure missed the UBS estimate of 562,000 tonnes gold output for the period.<\/p>\n<p>Cadia\u2019s lower production in the quarter was in line with the company&#8217;s expectations and reflects planned maintenance shuts of both concentrators and lower grade ore feed to the mill, while production at Telfer was 6% lower than the prior quarter due to a reduction in underground ore mill feed.<\/p>\n<p>This loss in production was offset by improvements at the Lihir and Red Chris mines, where gold output increased by 14% and 43% respectively.<\/p>\n<p>\u201cNewcrest\u2019s gold production in the quarter is in line with our expectations following the <a href=\"https:\/\/www.mining.com\/newcrest-confirms-high-grades-at-red-chris-havieron\/\"  rel=\"noreferrer noopener\" aria-label=\"recent update to guidance (opens in a new tab)\">recent update to guidance<\/a> and reflects the impacts of planned shuts at Cadia and Telfer and the divestment of Gosowong in March,\u201d managing director and CEO Sandeep Biswas stated in a media release.<\/p>\n<p>The company added that production in the June quarter is expected to be higher than the March quarter due to a lower level of planned shutdown events across the portfolio.<\/p>\n<p><em>(With files from Reuters)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Production in Q3 totalled 518,770 oz, about 45,000 oz lower than analyst estimates.<\/p>\n","protected":false},"author":92,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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