Northern Star Resources (ASX:NST), Australia's largest listed gold miner, has cut its production guidance for the 2026 financial year, citing a series of equipment failures and operational challenges, sending its shares tumbling 9% on Jan. 2.
The company revealed it now expects to produce as few as 1.6 million ounces of gold, down from previous forecasts of up to 1.85 million ounces.
The downgrade follows a breakdown in the primary crusher at the miner's flagship Super Pit in Western Australia in early December 2025, a problem the company only disclosed to the market almost a month later.
Northern Star also reported a slip in the open-cut wall at its South Kalgoorlie mine in October and a more severe-than-expected failure at its Jundee crushing circuit, reducing output by an estimated 20,000 ounces.