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Profile
Newcrest is Australia's largest gold producer and one of the world's top 10 gold mining companies by production, reserves and market capitalisation.
Newcrest has a portfolio of predominantly low cost, long life operating mines, a strong pipeline of growth projects and highly prospective brown and greenfield exploration projects. The company has a substantial reserve and resource base with current gold reserves representing more than 25 years of future production . As at 30 June 2011, it had gold reserves of 80.0 Moz and copper reserves of 8.36 Mt and gold resources of 147.5 Moz and copper resources of 19.9 Mt.
As an unhedged gold producer with low gearing and a strong operating cash flow, Newcrest's financial strength, coupled with extensive technical capability and a pipeline of organic growth opportunities ensure the company is well placed to deliver competitive returns to shareholders over the long term.
Newcrest's asset portfolio includes eight operating mines using a variety of efficient predominantly low cost bulk mining methods for large orebodies together with selective underground mining methods to optimise high-grade epithermal deposits. Current operations include: Cadia Valley Operations, comprising Cadia Hill and Ridgeway (near Orange, NSW), Telfer Open Pit and Telfer Underground (Pilbara Region, Western Australia), Gosowong (Indonesia), Lihir (PNG), Hidden Valley (PNG) and Bonikro (West Africa).
The company is currently evaluating three major prospects with significant metal endownments, namely Wafi-Golpu in PNG, Namosi in Fiji and O'Callaghans in Western Australia. In addition, Newcrest is currently exploring for gold and gold-copper deposits in Australia, Indonesia, PNG, Fiji,and Cote d'Ivoire. Discovery of new orebodies remains an important element in Newcrest's strategy to maximise shareholder returns over the long term. A key objective of the company's exploration activities is to control large prospective mineral districts in order to secure long term mining operations, while enhancing the potential for further discoveries.
For the financial year ended 30 June 2011, Newcrest produced 2.7 million ounces of gold at a cash cost of A$493 per ounce and 75.6 kilo tonnes of copper. For 2011-12, Newcrest is targeting gold production of 2.775 – 2.925 million ounces and copper production of 75 - 85 thousand tonnes.
Headquartered in Melbourne, Australia, Newcrest is among the top 15 companies listed on the Australian Stock Exchange by market capitalisation. The Company has around 16,000 employees and long term contractors.
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