Newcrest Mining, the biggest gold producer in Australia, has announced a jump of 63% in its full-year profit.
The company made an after-tax profit of $A908 million in the year to the end of June, up from $A557 million the year before.
The ABC reports the result was driven by higher gold prices, and the acquisition of Lihir Gold which was completed on 30 August last year.
The average price of the company's gold sales over the past financial year was $US1360 per ounce, up from $US1106 the year before. Copper prices were also significantly higher in US dollar terms.
However, copper production decreased from 86,816 to 75,631 tonnes, caused partly by rain at a key mine.
Gold production increased 43%to just over 2.5 million ounces.
Chief executive Greg Robinson says the result was achieved in spite of a substantial jump in mine production costs.
Newcrest shares were down 1.2% to $A40.25 by 11.11am (AEST) on Monday, mostly due to a fall in the price of gold over the past few trading sessions.
