(Adds details on mine outlook, CEO comment)
March 11 (Reuters) - Australia's Newcrest Mining Ltd (NCM) cut its gold production forecast for the full year on Wednesday due to difficult mining conditions at its Lihir mine and the sale of its interest in the Gosowong mine in Indonesia.
The country's largest listed gold miner cut gold production outlook to between 2.1 million ounces and 2.2 million ounces for the fiscal 2020, from its prior forecast of 2.38 million ounces to 2.54 million ounces.
Lihir's gold production forecast for the year was cut to between 775,000 ounces and 825,000 ounces, down from the previous forecast of 930,000 ounces to 1.03 million ounces.
The lower output at Lihir is a result of shutdowns due to difficult mining and geothermal conditions at the mine in Papua New Guinea, the company said.
"Operating improvements planned at Lihir for the remainder of FY20 will be insufficient to address its shortfall in production," Newcrest Chief Executive Officer Sandeep Biswas said.
The miner had, in January, said it was putting together corrective action plans for its Lihir and Telfer mines as it aimed to improve their performance over the next six months.
However, Newcrest said it expects production from its flagship Cadia mine to be between 800,000 ounces and 840,000 ounces, raising the lower end of its previous outlook of between 760,000 ounces and 840,000 ounces.
(Adds details on mine outlook, CEO comment) March 11 (Reuters)...
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