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Newcrest bumper profit comes with soft outlook – The Australian Financial Review
Newcrest Mining has posted its biggest profit in eight years, but warned its gold production will decline for the second consecutive year.
Gold was fetching $US1500 per ounce in August 2019, but surged to record highs above $US2000 per ounce earlier this month.
Despite losing ground earlier this week, gold prices remain at levels that are very high by historical standards; the yellow metal was fetching $US1948 per ounce on Friday morning.
Shareholders will receive a US17.5¢ final dividend, taking the total dividends for the year to US25¢.
That payout was 14 per cent higher than last year and means Newcrest shareholders have rece…
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