Tag: Newcrest

Newcrest and Epiroc partner to deliver industry leading semi-autonomous integrated production level

Newcrest and Epiroc partner to deliver industry leading semi-autonomous integrated production level

Newcrest’s Cadia Valley Operations has taken its Cadia East Underground Mine to new heights, with the successful implementation of the first semi-autonomous integrated production level. The flagship project for the Mining Innovation and Automation Team (MIA) at Cadia has undergone a series of project stages and due to its success, has now moved into full operation as the site prepares for automation to be a standard part of its future operations. Cadia’s General Manager, Aaron Brannigan, said the MIA team is changing the way the site operates. Not only is Cadia operating a semi-autonomous integrated production level, but the team has also developed industry leading technology which integrates automation into all third-party mobile equipment on the level. “Innovation and technology…

Antipa Minerals signs $60m farm-in deal

Antipa Minerals signs $60m farm-in deal

ANTIPA Minerals (ASX: AZY) has entered into a $60m farm-in agreement and exploration joint venture agreement with gold miner Newcrest. The agreement covers the southern part of Antipa Minerals’ 100pc-owned exploration ground in the Paterson province of WA, now known as the Wilki project. The Wilki project abuts Newcrest’s Telfer mine for gold and copper and its O’Callaghans deposit. Under the deal Newcrest has the option to acquire a 75pc interest in the joint venture for Wilki. Also, Newcrest has entered into an agreement with Antipa Minerals to acquire a 9.9pc shareholding in the Australian company through a $3.9m share placement. Antipa Minerals chairman Stephen Power said the agreements with Newcrest will ensure a robust exploration programme for Wilki over…

Gold prices boost Newcrest

Gold prices boost Newcrest

GOLD producer Newcrest Mining has unveiled an increased underlying profit of $280m for the six-month period ended December 2019, although gold production for the period was 12pc lower compared with the second half of 2018. Higher realised gold prices, and the favourable impact on its Australian operations from a weaker Australian dollar to US dollar exchange rate, contributed to the increased profit for the half year period. In the July-December 2019 period Newcrest produced 1.1moz of gold at an all-in sustaining cost of $880/oz, up from $747/oz for the year ago period. This represents an all-in sustaining cost margin of $566/oz for the December 2019-ended half year, up from $481/oz for the corresponding 2018 period. Newcrest managing director and chief…

Newcrest progresses Chilean project

Newcrest progresses Chilean project

BY JESSICA CUMMINS NEWCREST Mining has entered into the farm-in stage of its agreement with Mirasol Resources’ Altazor gold project in Chile. The two companies first signed an option and farm in agreement in November 2017, which saw Newcrest set to acquire up to 80 per cent of the project by completing a series of exploration and development milestones. After completing an aggressive exploration program comprising systematic soil sampling, detailed geological mapping, magnetics and electrical geophysics last year, Newcrest presented an exploration budget totalling $US3.3 million for this season’s exploration program. Exploration works would be focussed on a maiden drilling program, subject to obtaining applicable permits and permissions. Mirasol president and chief executive Stephen Nano said the company was pleased…

Cadia cuts Newcrest production guidance

Cadia cuts Newcrest production guidance

SAG and ball mills at Cadia. Image: Newcrest. BY CAMERON DRUMMOND NEWCREST has lowered its gold production forecast to reflect the temporary suspension of operations at its Cadia gold project in NSW. Cadia’s production guidance was downgraded to between 560,000oz and 600,000oz for FY18, down from between 680,000oz and 780,000oz. An embankment slump of Cadia’s Northern Tailings Facility had occurred in March, halting production at the mine. Mining was suspended, with processing recommencing at a restricted capacity from 29 March due to limitations of the capacity of the Southern Tailings Facility. In April, the gold miner announced it had received approval from the NSW Department of Planning and Environment to use the first 200m of the old Cadia Hill open pit…

Newcrest spends big on Lundin

Newcrest spends big on Lundin

Fruta del Norte mine is currently under construction with first gold expected in late 2019. Image: Lundin Gold. BY ELIZABETH FABRI NEWCREST will invest $US250 million to acquire a 27.1 per cent interest in Canadian miner Lundin Gold, which is developing the Fruta del Norte gold project in South East Ecuador. The 340,000 ounce per annum Fruta del Norte project, currently under construction, is aiming for first production by the end of 2019. Under the deal, Newcrest has the right to appoint two directors to the Lundin Gold board, and one of its nominated directors to a project advisory committee that will oversee Fruta del Norte development. The companies have also signed a binding Heads of Agreement to form a…

Newcrest: Standing proud

Newcrest: Standing proud

All images: Newcrest. BY ELIZABETH FABRI ON the back of one of its most eventful years to date, including an earthquake at its Cadia operation in April, Newcrest Mining remains in a comfortable position – on track to achieve its annual production guidance for the fourth consecutive year while advancing greenfields exploration overseas. The Newcrest executive team made some big decisions in 2016. The global gold miner signed an agreement to sell its 50 per cent stake in its PNG Hidden Valley facility at a $10m loss, let go of its Marsden copper gold project in NSW, put its Ridgeway underground mine at Cadia into care and maintenance, and welcomed a new investment to its portfolio — a stake in…

Pursuing Performance

Pursuing Performance

More than five million ounces of gold has been produced at Telfer since operations recommenced in 2004. Image: Newcrest. By Elizabeth Fabri BIDDING farewell to its Hidden Valley and Marsden projects has Newcrest looking to the future, and there is much to celebrate. From increased production at Cadia East, progress at Wafi-Golpu and a potential stake in gold junior SolGold, Newcrest’s sights are set on continued success across its global asset base. Newcrest Mining produced 2.439 million ounces of gold and 83,000 tonnes of copper in FY16, meeting the group’s production and cost guidance for the third consecutive year. The gold giant’s managing director and chief executive Sandeep Biswas described the results as “solid” and identified a number of opportunities to…