News: NCM UPDATE 1-Australia's Newcrest Mining tops Q2 output estimate, maintains annual forecast

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Jan 28 (Reuters) - Newcrest Mining's (NCM) second-quarter gold production beat analyst expectations, helped by a 22% jump in output at its Lihir mine.

Production from Lihir rose to 200,173 ounces from 163,994 ounces a year earlier, but flagship Cadia mine in Australia saw output slip to 194,088 ounces from 239,722 ounces last year.

Australia's top gold miner's production of 535,477 ounces for the quarter ended Dec. 31 managed to beat UBS estimate of 528,000 ounces, but was down 2.8% compared with 551,115 ounces last year.

The miner's output was up 6.4% compared to the previous quarter, boosted by an increase in throughput and recovery at Lihir mine in Papua New Guinea.

The gold producer in October had approved expansion of Cadia mine and a recovery project at Lihir to boost production, following a decline in output in the prior two quarters.

The miner warned of planned shutdowns at Cadia and Lihir mines in March quarter, expecting a likely drop in mill throughput compared with the three months ended December.

However, it maintained its annual gold production forecast of between 1.95 million ounces and 2.15 million ounces, as well as copper output outlook of between 135,000 tonnes to 155,000 tonnes.

All-in sustaining costs for the group in the quarter stood at $968 per ounce, compared with $859 a year earlier.