Newcrest’s Quick Solution for Cadia Tailings Dam Failure a Positive, AUD 23 FVE Maintained
Regulatory approval for Newcrest to dispose tailings within the old Cadia Hill open pit is a positive and is faster than we and the market expected. As a result, the company expects to return to full production at its most important mine part-way through the June 2018 quarter. The approval covers the bottom 200 metres of the pit and allows tailings disposal for 16 months at full capacity. This should provide sufficient time for a permanent solution, either approval to fill the much larger upper ...Newcrest Mining is engaged in the exploration, mine development, mine operations and the sale of gold and gold/copper concentrate. As of June 30 2016, Co.'s reportable operating segments were: Cadia, Australia; Telfer, Australia; Lihir, Papua New Guinea (PNG); Gosowong, Indonesia; Hidden Valley Joint Venture (JV) (50% interest), PNG; Bonikro, COte d'Ivoire; and Exploration and Other, which mainly comprises projects in the exploration, evaluation and feasibility phase and includes Wafi-Golpu JV (50% interest) in PNG, Namosi JV (70.67% interest) in Fiji, O'Callaghans in Australia and Co.'s global greenfields exploration portfolio.
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