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    NCM   AU000000NCM7

NEWCREST MINING LIMITED

(NCM)
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Newcrest Mining : Approves A$236 Million for Projects to Improve Gold Recoveries

10/08/2020 | 04:07pm EDT

By Stuart Condie

SYDNEY--Newcrest Mining Ltd. said it has approved capital projects worth 236 million Australian dollars (US$169.1 million), including stage two of the expansion of its Cadia mine in eastern Australia.

Australia's largest gold miner by market capitalization on Friday said its board has approved the addition of equipment to one of the concentrators and upgrades to another at Cadia in New South Wales state. Newcrest expects the project to increase life-of-mine gold recoveries by 3.5% and copper recoveries by 2.7%, while reducing all-in-sustaining-cost by an estimated A$22 per ounce.

The Cadia expansion will cost A$175 million, compared with a previous estimate of A$180 million, Newcrest said in a filing to the Australian Securities Exchange.

The firm said it will also spend A$61 million to improve grinding classification and reduce gold losses through the flotation circuit at its Lihir operation in Papua New Guinea. Gold recoveries are projected to rise by 1.2% over the life of the mine, Newcrest said.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires

10-08-20 1807ET

Stocks mentioned in the article
ChangeLast1st jan.
GOLD -0.76% 1763.3 Delayed Quote.-6.38%
NEWCREST MINING LIMITED -2.95% 25.96 End-of-day quote.0.70%
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Financials (USD)
Sales 2021 4 569 M - -
Net income 2021 1 134 M - -
Net Debt 2021 285 M - -
P/E ratio 2021 13,8x
Yield 2021 1,64%
Capitalization 15 840 M 15 849 M -
EV / Sales 2021 3,53x
EV / Sales 2022 3,55x
Nbr of Employees 5 304
Free-Float 99,6%
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Technical analysis trends NEWCREST MINING LIMITED
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TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 24,42 $
Last Close Price 19,42 $
Spread / Highest target 75,6%
Spread / Average Target 25,7%
Spread / Lowest Target -0,12%
EPS Revisions
Managers and Directors
NameTitle
Sandeep Biswas Chief Executive Officer, Executive Director & MD
Gerard Bond CFO, Finance Director & Executive Director
Peter Algernon Franc Hay Independent Non-Executive Chairman
Suresh Vadnagra Chief Technical & Projects Officer
Maria Esperanza Sanz Perez Secretary, Chief Legal, Risk & Compliance Officer
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