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GOLD MINERS ROUNDUP 32 E&MJ; • MAY 2018 www.e-mj.com which would represent an 8% decline yoy. Nonetheless, "the company expects gold production to increase to approxi- mately 3 million oz by 2021," Goldcorp reported. "This is a result of the ramp-up to nameplate capacity at Cerro Negro and Éléonore, increased grades at Peñasquito following an intensive stripping campaign, the execution of the Pyrite Leach project at Peñasquito and the materials handling project at Musselwhite, and initial produc- tion from the Borden and Coffee projects." No. 6 Newcrest Mining (2.3M Oz) For the last half of 2017, Newcrest re- ported a "free cash fl ow of $134 million, enabling a 4% reduction in net debt to $1.4 billion." AISC increased 10% yoy to $836/oz, which is down 10% from the 2013 peak of $929/oz. Total ore mined and total ore processed fell 2% and 5% yoy, respectively. Total gold output at Lihir increased 2% yoy to 918,612 oz after increasing 23% yoy in 2016. Company-wide, however, total gold output fell 8% yoy. That decline came de- spite an uptick in production to close the calendar year. "Gold production in the December 2017 quarter was higher than the prior quarter, driven by increased pro- duction at Cadia, Lihir, Bonikro and Telfer, partially offset by a decrease in production at Gosowong," Newcrest reported. Quarter- ly production numbers at Lihir were detri- mentally impacted by a motor failure in a SAG mill. For Q4, production at Cadia from the two Panel Cave projects increased, with recoveries improving to 81%, the company reported. In December, the company sold its Bonikro gold mine in Côte d'Ivoire to a consortium consisting of F&M; Gold Re- sources and Africa Finance Corp. In a presentation including results on the half-year ending at December 31, 2017, Newcrest reported its reserve life for Cadia was at more than 45 years, and Lihir was at more than 25 years. It put its reserve base at Lihir and Cadia at roughly 25 mil- lion oz each. The company will wrap up fea- sibility studies at Golpu and Cadia in 2018. Cadia is set to hit a 30 mt per year (mt/y) of ore production rate by end June 2018. Lihir's mill throughput rate will reportedly hit 15 mt/y by the end of June 2019. Offi - cial guidance for the year ending June 30, 2018 is between 2.4 and 2.7 million oz. No. 7 Polyus (2.16M Oz) Polyus reported its revenue for 2017 in- creased roughly 11% yoy to $2.7 billion, "driven by increased sales volumes." Raw earnings rose 11% yoy to $1.7 billion. "Adjusted net profi t for 2017 amounted to $1 billion, a 7% increase from the pri- or year," Polyus reported. Debt fell yoy to $3 billion, down roughly $170 million. Polyus reported the lowest AISC of the group for the fourth straight year, despite it rising 9% yoy to $621/oz. It also re- ported the third highest average received price, at $1,271/oz, a decline of 1% yoy. Total ore mined and total ore processed rose 27% and 9% yoy, respectively. Total gold output at Olympiada increased 26% yoy to 1.2 million oz after rising 23% yoy in 2016. Company-wide, total gold output increased 10% yoy. The company has in- creased production for 10 straight years. Leadership attributed the trend to "the strength of our assets and the focus on ef- fi ciency" enabling the company to "deliv- er production numbers above our offi cial guidance of 2.08 million to 2.13 million oz for the fourth year in a row." The company reported its reserves rank it second in the world. It reported 68 million oz, as of December 31, 2017, "down from 71 million oz as of December 31, 2016, which refl ects mining depletion during 2017." More than 95% of the company's A rope shovel loads rock into awaiting haul trucks at the Peñasquito mine in Mexico. (Photos: Goldcorp)