Newcrest production declines slightly in March Q

Australian gold major Newcrest Mining has reported a 2.6% decline in gold production and a 12.3% decline in copper production for the three months to December. Group gold production for the quarter reached 598 602 oz, while copper production reached 22 074 t in the three months to March, with Newcrest telling shareholders on Thursday that production from the Cadia mine, in New South Wales, was lower as the company proactively managed cave draw from the Panel Cave 2, to evenly propagate the cave and optimise the cave shape.