Newcrest meets FY gold guidance

Miner restates increased FY14 gold production forecast, reiterates copper outlook.

Newcrest Mining Ltd has reiterated its increased 2014 gold production forecast after the miner's full-year output met its own guidance.

In the full year to June 30, the miner produced 2.11 million ounces of gold, in line with guidance of between two million to 2.15 million ounces.

Newcrest expects gold production for fiscal 2014 to be between two million and 2.3 million ounces.

The company produced 80,366 tonnes of copper in fiscal 2013, within guidance of 75 to 85 thousand tonnes, and has set the same guidance range for 2014.

Production came at a cash cost of $750 per ounce and total cost of $1,040 per ounce, Newcrest said.