Australia's biggest gold miner Newcrest has lifted its full year production target while lowering its costs.
Chief executive Sandeep Biswas said he was happy with Newcrest's Australian mines, but disappointed with the performance of its major Lihir operations in Papua New Guinea, which achieved a lower than expected production increase.
Milling operations at another PNG mine were also stopped for 17 days following the death of a worker in early December.
Stronger than expected overall production in the three months to December was achieved as capacity upgrades at Newcrest's largest Australian operation, in NSW's central west, progressed ahead of schedule.
Newcrest now expects to produce between 2.3 million and 2.5 million ounces of gold in the 2014/15 year, up 100,000 ounces on its previous guidance.
Copper production guidance has also been lifted to a range of 90,000 to 100,000 tonnes, up from the previous guidance of 75,000 to 85,000 tonnes.
Newcrest also lowered its full year all-in sustaining cost guidance, to a range of $2.3 billion and $2.5 billion, due to stronger copper production and improved efficiencies.
But the company's shares have fallen, as the gold price endured its sharpest drop in more than a year.
The price fell due to a stronger US dollar, and a move by traders into other investments in anticipation of an interest rate rise in the US.
Newcrest shares dropped 14 cents to $13.56.
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