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The company said that gold production was 3% lower than the prior period driven by lower mill throughput at Lihir with drought conditions continuing to limit water supply to the plant, and the temporary suspension of operations at Brucejack following the fatality in October 2022. Newcrest’s all-in sustaining cost of $1,082/oz for the quarter was 1% lower than the prior period, reflecting a higher proportion of lower cost ounces produced at Cadia, a higher realized copper price and the benefit of a weakening Australian and Canadian dollar against the US dollar on operating costs.
“Following the water restrictions and unplanned mill downtime events experienced at Lihir and the Brucejack fatality, both operations are anticipated to deliver at the lower end of their production guidance ranges for FY23,” the company said.
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