Australia-based St Barbara has updated its production and cost guidance for the second half of the 2025 financial year, citing adjustments to its Simberi operations in Papua New Guinea. 

The company has revised its gold production and all-in-sustaining cost (AISC) expectations following a review of mining progress at the site.

Production from Simberi is now expected to range between 32 500 oz and 42 500 oz of gold in the June 2025 half-year. AISC is forecast to be between A$3 400/oz and A$3 800/oz. The update comes as a result of not achieving the targeted face positions in two key mining areas, which has led to a lower-than-expected average mined grade for the period.

Despite these challenges, St Barbara has made progress in improving the efficiency of its operations. The commissioning of the sizer crusher, along with the resetting of the semiautogenous grinding mill in January and February, has led to an increase in both availability and throughput. In addition, the company has added two new excavators to its fleet, and several Volvo AH60 articulated trucks are expected to arrive from March to further boost fleet capacity, aiming to enhance mining productivity.

These production figures exclude ongoing gold recoveries from the decommissioning of the Touquoy processing plant in Nova Scotia, consistent with past reporting practices.

In terms of overall guidance for the 2025 financial year, St Barbara has revised its gold production forecast to a range of 55 000 oz to 65 000 oz, down from previous expectations of 65 000 oz to 75 000 oz. The revised AISC for the full year is now projected to be between A$3 900/oz and A$4 200/oz.

MD and CEO Andrew Strelein noted the company’s improvement in operational efficiency, stating, "We are pleased with the progressive improvements made over the last couple of months, which are anticipated to translate into an improved June 2025 half-year." However, he said the lower-than-expected average mined grade outlook would result in the company falling short of its original guidance.