Gold mid-tiers’ Q3 2024 fundamentals
All-time-high gold prices combined with relatively-contained costs catapulted unit earnings to another epic record.
Today, Newcrest Mining Limited announced that mining operations at the Ridgeway underground mine have been temporarily suspended following the failure of a section of the conveying system on September 12, 2012.
Damage to the conveyor has been minimized, but repairs to the damaged section, which is located at the top of the conveyor near the portal, will take up to 15 days.
While repairs are underway, lower grade stockpile material will replace mine ore feed to the Ridgeway processing operations.
Depending on repair time, the net impact to production is estimated to be about 5,000 to 10,000 ounces of gold and about 100 to 200 metric tons of copper.
Operations at the Cadia processing plant are not impacted.
There is no change to the annual production guidance for Cadia Valley or for Newcrest as a result of this disruption.
Source (English): Newcrest
