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Australia's Newcrest sees gold output flat at best in FY2015
August 17, 2014 / 11:54 PM / 3 years ago

Australia's Newcrest sees gold output flat at best in FY2015

SYDNEY, Aug 18 (Reuters) - Australia’s Newcrest Mining Ltd , which posted a loss in the 2014 financial year, said gold production this year will be flat at best as it strives to improve productivity at its mines.

Gold production is expected to be in the range of 2.2 to 2.4 million ounces, compared with 2.396 million ounces in the 2014 financial year, according to Newcrest

It blamed a net loss after tax of A$2,653 million ($2.47 billion) for the 12 months to June 30 mostly on A$2.353 billion of asset impairments at its Lihir, Telfer, Bonikro and Hidden Valley mines. (1 US dollar = 1.0733 Australian dollar) (Reporting by James Regan; Editing by Paul Tait)

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