- Newcrest Mining (NCM) achieves its FY23 gold production and AISC guidance
- The ASX200 giant reported gold production of 556,000 ounces and copper production of 35,000 tonnes during the quarter
- FY23 AISC of $1094 per ounce, delivering an AISC margin of $678 per ounce
- During the quarter, Newmont agreed to acquire Newcrest, now subject to conditions
- NCM is down 0.15 per cent, trading at $26.44 at 12:48 pm AEST
ASX200 giant Newcrest Mining (NCM) has met its gold production and AISC guidance for the 2023 financial year.
The company reported gold production of 556,000 ounces and copper production of 35,000 tonnes during the quarter.
Total FY23 gold production reached 2.1 million ounces and copper production of 133,000 tonnes.
Newcrest achieved an FY23 AISC of $1094 per ounce, delivering an AISC margin of $678 per ounce.
“We were pleased to achieve our FY23 Group guidance for gold production and AISC following an improved operational performance in the June quarter,” NCM CEO Sherry Duhe said.
Meanwhile, Lihir achieved a record safety performance with no recordable injuries for two consecutive quarters and at its Red Chris site, the annual total recordable Injury frequency rate (TRIFR) reached its lowest level in FY23.
The Rye Park wind farm has begun generating renewable power, and early supply has commenced under Cadia’s power purchase agreement.
Newcrest also inked a Wafi-Golpu framework memorandum of understanding (MOU), indicating progress in the development of the copper-gold deposit.
Red Chris Block Cave feasibility study is aimed to be completed in the second half of 2025.
Also during the quarter, Newmont agreed to acquire Newcrest, subject to approvals. This transaction is expected to establish a global leader in gold production, combining two of the world’s largest producers with a growing exposure to copper.
NCM was down 0.15 per cent, trading at $26.44 at 12:48 pm AEST.