Newcrest Mining will pay an interim dividend for the first time in four years after higher prices and increased gold and copper production helped it more than double its first-half profit.
Australia's largest gold miner reported a net profit for the six months to December 31 of $US187 million ($A243.7 million), up from $US81 million a year earlier.
After stripping out one-off items, underlying profit more than quadrupled to $US273 million, from $US63 million.
"We remain on track to achieve our annual guidance for the fourth year in a row," chief executive Sandeep Biswas said.
"Our near-, medium- and longer-term growth options remain on track."
The robust results helped the company declare an unfranked interim dividend of 7.5 US cents a share, matching what it paid for the whole of the previous financial year.
Newcrest resumed dividend payments in August 2016 after a three-and-a-half-year break during which it suffered losses amid falling gold prices.
Mr Biswas said there was no change in the company's dividend policy and the board would review payouts every six months.
RBC Capital Markets analyst Paul Hissey said that, while the dividend was slightly lower than estimated, there were no surprises in the overall results.
Gold production for the half-year rose two per cent to 1.23 million ounces, while copper output jumped 26 per cent to 48,899 tonnes.
The steady performance comes after several quarters of patchy production as a result of disruptions at several of its mines.
The company also benefited from higher gold prices during the period, with average realised price up 15 per cent at $US1,277 per ounce. Copper prices remained flat at $US2.30 a pound.
Newcrest has previously forecast gold production in the range of 2.4-2.65 million ounces for FY17, and copper production in range of 80,000 and 90,000 tonnes, largely unchanged from the previous year.
At 1330 AEDT, Newcrest shares were up 20 cents or 0.9 per cent, at $22.74 each.
The stock has risen by more than a third since mid-December.
NEWCREST HALF YEAR PROFIT JUMPS
* Net profit $US187m, up from $US81m
* Revenue up 17pct to $US1.81b
* Interim dividend of 7.5 US cents, unfranked
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