PERTH (miningweekly.com) – Australian gold major Newcrest Mining has achieved its full-year production targets, reporting a 20% quarter-on-quarter increase in gold output and a 25% quarter-on-quarter rise in copper production for the three months to June.

For the full year, Newcrest produced more than 2.1-million ounces of gold and some 80 366 t of copper, which was in line with the previous guidance of between 2-million and 2.5-million ounces of gold and between 75 000 t and 80 000 t of copper.

June quarterly gold production reached 642 032 oz, while quarterly copper production was counted at 22 818 t.

The ASX- and TSX-listed company ascribed the higher production over the quarter to the increased plant capacity at the Lihir mine, as well as the ongoing ramp-up of the Cadia East panel cave, and the mining of higher-grade stopes at Gosowong.

The Cadia Valley operation delivered some 140 267 oz of gold and 15 959 t of copper to Newcrest’s portfolio during the quarter under review, with gold production up 20% on the previous quarter as plant throughput increased.

At Lihir, Newcrest produced 201 213 oz of gold, with the expanded plant operating in line with the company’s expectations.

The Telfer mine, meanwhile, added a further 161 755 oz of gold and 6 859 t of copper to the June quarter figures, while the Gosowong mine delivered 92 896 oz of gold. The Hidden Valley operations, in which Newcrest holds a 50% interest, also delivered 23 299 oz of gold and 191 429 oz of silver.

At Bonikro, Newcrest added 22 672 oz of gold to its June quarterly production.

Gold production for the 2014 financial year was expected to be between 2-million and 2.3-million ounces, while copper production for the full year was forecast at between 75 000 t and 80 000 t.

Newcrest, which recently announced an asset impairment of between A$5-billion and A$6-billion, has warned shareholders that the first-quarter gold production would likely be lower than the three months to June, with production expected to progressively increase over the course of the financial year.