Newcrest Mining Limited - Cadia receives approval to increase processing capacity

Newcrest Mining Limited (ASX, TSX, PNGX: NCM) has received approval from the New South Wales Department of Planning, Industry & Environment (DPIE) for a modification to increase the permitted processing capacity of Cadia from 32Mtpa to 35Mtpa.

As previously announced, the Newcrest Board approved progression to execution of a two-stage expansion of Cadia, including an increase in plant capacity to 35Mtpa.

Execution of the works for both stages of the expansion are currently in progress, with completion expected in the September quarter of calendar year 2022. The modification also provides approval for Newcrest to repair the slumped section of the Northern Tailings Storage Facility (NTSF) at Cadia and revise the footprint of the NTSF and Southern Tailings Storage Facility to allow for a change from an upstream to a centreline lift design.

The modification is subject to conditions including Newcrest commissioning an independent audit report to the satisfaction of the DPIE Secretary in relation to Newcrest's approach to managing and minimising the off-site air quality impacts of the project. The Newcrest Board approved gating of the NTSF embankment remediation to Feasibility Study in July 2021. Detailed design work on a single design option is currently in progress, with execution expected to cost less than A$100 million.

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