Salem Radio Network News Wednesday, May 18, 2022

Business

Australia’s Newcrest quarterly gold output jumps 10% sequentially

(Reuters) – Australia’s Newcrest Mining Ltd posted a 10% rise in third-quarter gold production on Thursday, helped partly by strong output due to higher mill throughput rates at its flagship Cadia mine.

The country’s largest gold miner said output was 479,839 ounces for the three months ended March 31, compared with 436,085 ounces in the previous quarter and brokerage Citi’s estimate of 535,000 ounces.

(Reporting by Shashwat Awasthi and Roushni Nair in Bengluru; Editing by Krishna Chandra Eluri)

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