Gold major Newcrest Mining’s profit declined by nearly one quarter in the 2016 financial year, owing to lower realised gold and copper prices, the suspension of operations at its Gosowong mine, in Indonesia, and lower copper sales volumes.
Australia’s largest gold producer on Monday posted underlying profit of $323-million in the 12-months ended June 30, compared with $424-million in 2015. Revenue decreased by 9% from $3.60-billion to $3.30-billion in 2016.
