Half-year results roundup: Newcrest Mining profits halve

Newcrest Mining has posted a statutory profit of $320 million for the half-year to December 31, 51% lower than the year before. This significant decrease is largely attributed to an 18% decrease in gold production, which led to a 23% decrease in sales revenue. Gold production was down by 213,039 ounces to 953,331 for the period.

Newcrest says its lower result also reflects the production costs of two major projects, now completed.