Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Australian miner Newcrest Mining reported a steady annual growth of copper production from its operations in its annual production report. 


The firm’s total copper production has risen steadily across the duration of FY 2020 ended June 30, 2020, from 24,773mt in Q1 2020 to 40,196mt in the final quarter. 


Annually, mine operations produced 137,623mt of copper, up 29pc from the prior year. Compared to Q4 2019 of the Australian calendar, copper production surged almost 40pc in the last quarter of 2020. In Q4 2020, the company realized copper at $5,445/mt. 


Newcrest’s chief executive officer, Sandeep Biswas, said that the company delivered a record yearly output from its Cadia mine in New South Wales, Australia. Cadia contributed 27,634mt in Q4 2020 to the total copper volume. Newcrest’s Telfer mine in Pilbara, West Australia produced 4,162mt while the Red Chris mine in British Columbia, Canada had an output of 8,401mt during the same period. 


The company said it ensured the safety of its workers during the outbreak of the coronavirus and reported zero positive cases. 

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