Newcrest Mining Limited has entered into an agreement to sell its 70% interest in the Cracow gold mine and exploration joint ventures and its 100% interest in the Mt Rawdon gold mine to a company formed through the merger of Catalpa Resources Limited (ASX:CAH) and Conquest Mining Limited (ASX:CQT).
Lihir Gold reported an after tax profit of $290 million, up 57% from 2008. Total output exceeded one million ounces for the first time, rising 27% to 1.124 million ounces, with group unit total cash costs reduced to $397/oz, from $400/oz in the previous 12 months.
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