Newcrest Mining shares have fallen five per cent as the gold miner's quarterly production fell, in part due to two deaths at its mines.
Australia's largest gold miner produced 583,745 ounces of gold in the three months to September, down 13 per cent on the June quarter.
Managing director Sandeep Biswas said operations had been suspended for 11 days at Cadia in central NSW and for 33 days at Hidden Valley in Papua New Guinea following fatalities, and production had been affected.
"I have instigated a full and detailed review of all aspects of safety management at all our sites with a particular focus on high risk tasks," he said.
A new general manager for health, safety, environment and security, Peter Cowley, has been appointed and will start next month.
September quarter production was also affected by lower grades at Ridgeway and at Cadia East. Plus, heavy snow in July caused a power outage at Cadia.
Gold production at Telfer in Western Australia was lower in the quarter due to a planned mill shutdown, while gold production at Lihir in PNG dipped compared to the June quarter following high maintenance activity.
The company received $US1,128 an ounce on average, down from $US1,193 in the June quarter, though a lower Australian dollar helped to improve prices in local currency terms.
The company has maintained its full year gold production guidance range, which indicates a rise of up to seven per cent.
Shares in Newcrest dropped 75 cents, or 5.05 per cent, to $14.11.
Share
