Northern Star Resources has axed its forward hedging policy to take advantage of the soaring gold price, as it grapples with problems at its Super Pit mine in Kalgoorlie that have curbed production and increased costs.

The ASX’s biggest listed gold producer had previously hoped to produce as much as 1.8 million ounces in the 2025 financial year, but abandoned that forecast. Northern Star confirmed that it could only sell about 1.6 million ounces this year, and that slower output would continue into 2026.