Ann: Newcrest closely monitoring situation in Cot, page-5

re: Ann: Newcrest closely monitoring situatio... Newcrest boosts gold output goal by 1m ounces
December 7, 2010 - 11:05AM

Australia's Newcrest Mining expects to boost gold output to 3.75 million ounces in fiscal year 2014 from 2.74 million ounces in 2010, an executive said on Tuesday.

Geoff Day, chief operating officer offshore operations, made the forecast at a conference in Sydney.

Newcrest acquired rival Lihir Gold this year, which operated mainly from Lihir Island in Papua New Guinea.

Newcrest shares were up as much as 43 cents, or 1.1 per cent, to $41.52 in recent trade. The stock is up about 17 per cent this year, compared with a 3 per cent drop for the overall market.