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News: IOD UPDATE 1-Australia's Newcrest gold output rises on Cadia mine boost

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    July 25 (Reuters) - Australia's largest gold miner Newcrest Mining Ltd (NCM) on Tuesday reported a 9.1% sequential rise in fourth-quarter gold output, as easing production snags at its flagship Cadia mine in New South Wales drove a rebound in production.

    Lower planned and unplanned maintenance at Cadia boosted mill throughput, with production rising nearly 14% sequentially, bouncing back after a drop in the previous quarter.

    Newcrest's Lihir mine in Papua New Guinea also recorded an 8.2% sequential rise in production.

    The gold miner, which is currently the subject of a A$26.2 billion ($17.65 billion) takeover offer from Newmont Corp NEM.N , produced 556 kilo ounces (koz) of the yellow metal in the three months ended June 30, below a Visible Alpha consensus estimate of 584 koz.

    It produced 510 koz of gold in the third quarter, and 637 koz a year earlier.

    ($1 = 1.4841 Australian dollars)

 
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