Lihir Gold (Nasdaq:LIHR) Posts $87 Million Profit

Lihir Gold, Limited (Nasdaq:LIHR), which is soon to be taken over by Newcrest Mining (ASX:NCM), turned around in the first half, generating net earnings of $87 million, after losing $301 million in the same period a year ago.

Once the merger between the two companies is completed, Lihir will be included as part of the fourth-largest gold company in the world, behind Barrick Gold (NYSE:ABX), Newmont Mining (NYSE:NEM), and Goldcorp (NYSE:GG).

Guidance for production remained the same as prior estimates, with expectations of 1 million to 1.1 million ounces of gold to be mined for the full year.