Small but growing Australian gold producer Evolution Mining (ASX:EVN) has taken a bite out of its much larger, dual-listed rival, Newcrest Mining (ASX:NCM, TSX:NM)
The move is part of the government's increasing efforts to clamp down on damage caused by the mining industry in the nation, the world's top nickel ore supplier.
The company produced 49,874 ounces of gold in the nine months to September, or 7.8% less than in the same quarter last year. It also cut its 2016 production target.