Newcrest quarterly gold output falls nearly 3% on mine suspension

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Additionally, a fatality at the Brucejack mine in Canada resulted in suspension of operations for about three weeks in October.

The gold miners expects gold production at Lihir and Brucejack to increase in the second half of fiscal 2023.

Newcrest said it produced 512,130 ounces (oz) of the precious metal in the three months to Dec. 31, compared with 527,115 oz in the September quarter, missing Citi estimate of 552,700 oz.

Gold miners had a volatile 2022, as bullion prices were swayed by a global rise in interest rates, and fears of an impending recession. Spot gold rose nearly 10% in the December quarter.

(By Echha Jain and Navya Mittal; Editing by Maju Samuel)

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