Newcrest Mining

Equities

NCM

AU000000NCM7

Market Closed - Australian S.E. Other stock markets 01:10:49 2023-10-26 am EDT			5-day change	1st Jan Change
23.35 ^AUD	-1.27%		-.--%	-.--%

2023	National Bank of Canada Reduces Newmont's Price Target	MT
2023	Newmont Completes Newcrest Mining Acquisition	MT

Newcrest Approves $1.2-Billion Cadia Mine Project

November 10, 2022 at 05:44 pm EST

By Rhiannon Hoyle

Newcrest Mining Ltd. said it will proceed with plans for the next panel cave at its Cadia mine, one of Australia's largest gold operations.

The company on Friday said the Cadia PC1-2 feasibility study concluded the roughly $1.2-billion project would have an internal rate of return of 18%.

Newcrest said it expects to produce an average 231,000 troy ounces of gold and 42,000 metric tons of copper annually from the panel cave development. First gold and copper production is anticipated in fiscal year 2026 and the cave will have a roughly 16-year mine life, it said.

The project "forms a key strategic milestone for Newcrest to maintain Cadia's long-life production profile, with the development of PC1-2 accounting for approximately 20% of Cadia's published ore reserves," said the company.

Chief Executive Sandeep Biswas said the miner has "significant financial headroom to fund the construction of PC1-2 through our internal cash flow and prudent use of our strong balance sheet."

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

(END) Dow Jones Newswires

11-10-22 1743ET

Latest news about Newcrest Mining

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Company Profile

Newcrest Mining Limited is an Australia-based mining company. The Company's principal activities are exploration, mine development, mine operations and the sale of gold and gold/copper concentrate. The Company owns and operates a portfolio of brownfields and greenfields exploration projects. The Company's assets include Brucejack, Cadia, Havieron, Lihir, Red Chris, Telfer and Wafi-Golpu. The Brucejack asset is located approximately 950 kilometers (km) from Vancouver, Canada. The Cadia asset is located approximately 25 km from Orange, New South Wales (NSW). The Havieron asset is located approximately 45 km east of Telfer. The Lihir asset is located on the Niolam Island, approximately 900 km from Port Moresby, Papua New Guinea (PNG). The Red Chris asset is located approximately 1,700 km from Vancouver, Canada. The Telfer asset is located approximately 400 km from Port Hedland, WA. The Wafi-Golpu asset is located approximately 65 km from the city of Lae, PNG.

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