SYDNEY, Aug 15 (Reuters) - Australian-based resources company Newcrest Mining NCM.AX has reported a 12 percent fall in net profit to $332 million after gold and copper prices received from its operations fell.
Newcrest, which operates mines in Australia, Papua New Guinea, Indonesia and Africa's Ivory Coast, produced 2.44 million ounces of gold in 2015-16, an increase of 1 percent on the previous year and within guidance. Copper production was down 14 percent at 83.1 thousand tonnes.
The company largely attributed the fall in net profit to lower prices received from its operations, with realised gold prices averaging $1,166 per ounce - down 5 percent from the previous fiscal year - and copper prices down 24 percent to $2.21 per pound.
The company, which switched to reporting in U.S. dollars in fiscal 2016 from Australian dollars previously, reported on Monday that it would pay an unfranked final dividend for 2015-16 of 7.5 cents per share.
It has set a production target for 2016-17 of 2.4 to 2.65 million ounces in gold and 80,000 to 90,000 tonnes of copper.