Newcrest Mining Ltd up in gold production

The year ending June 2007, reported good for Australian gold producer Newcrest Mining Ltd., which saw an increase in its gold production by 6% to 1.62 million ounces. The fourth quarter production delivered 463,170 ounces, an increase of 19%, compared to the third, and bringing the price per ounce to $374 an ounce. The overall year production has valued the cost per ounce at $420.

Newcrest�s Telfer mine, accounting for the fiscal�s 35% output, had improved during the last quarter, after heavy rains hampered operations in March.