News: NCM Newcrest Mining meets 2017 gold production target

July 24 (Reuters) - Newcrest Mining Ltd (NCM) said on Monday its fourth quarter gold production fell 7.7 percent from a year ago after its flagship Cadia mine was hit by an earthquake in April, but output was just enough to meet its full-year target.

Production of 551,815 ounces of gold in the fourth quarter helped Australia's biggest gold miner by market capitalisation reach annual production of 2.38 million ounces, at the lower end of its full year target of 2.35 to 2.60 million ounces.

A minor earthquake in April forced Newcrest to suspend operations at the Cadia mine in eastern Australia, cutting production at the site by more than half in the June quarter from the prior quarter.

The company anticipates production from Cadia in the September quarter to be above the June quarter, but expects output to remain below pre-earthquake levels as it continues repair work at the site.