AAP
Gold miner Newcrest Mining Ltd recorded a 17 per cent increase in production in the second quarter of fiscal 2010, but maintained its guidance for full year production.
Newcrest said in a statement on Thursday that it produced 442,333 ounces of gold in the quarter to the end of December 2009, up 17 per cent on the first quarter.
Gross cash costs fell 31 per cent at $A310 per ounce, and net cash costs fell 29 per cent also to $A310 per ounce, the miner said.
Newcrest said its copper production in the second quarter was 23,860 tonnes, 12 per cent higher than the first quarter.
Newcrest reaffirmed earlier guidance of full year production at 1.81 million to 1.91 million ounces of gold in fiscal 2010.
The company said the production result was based on record quarterly production at its Telfer operation in Western Australia, higher production at Cadia Valley in the NSW central west, and ramp up at Hidden Valley, in Papua New Guinea, were the main contributors.
Production at Gosowong, in Indonesia, was consistent with the previous quarter, and lower Cracow production was in line with plan, Newcrest said.
