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Explorations
Explorations Overview
Exploration discovery remains Newcrest’s key driver for value adding growth and for maximising shareholder returns over the long term. A key objective of our exploration strategy is to control large mineral districts with the aim of securing sustainable long-life mining operations whilst enhancing the potential for repeat discoveries.
The principal targets for Newcrest’s exploration are porphyry gold-copper, epithermal gold and sediment-hosted gold deposits. Operationally, our continued emphasis is on minimising fixed overhead costs and maximising funds available for drilling.
Newcrest’s exploration strategy is biased towards exploring recognised mining or mineral districts and focusses on deeper drilling. Our approach continues to acknowledge the importance of time and patience in the discovery process and the need for reliable and consistent exploration funding.
Newcrest’s exploration remains predominantly Australian-focussed with a brownfields emphasis. Internationally, we have broadened our area of search with initial efforts concentrated in the USA and Peru, to complement exploration in Indonesia.
The Newcrest Board recognises that continued strong support for the exploration program is essential to the Company’s future sustainability. To ensure viability of the reserve replacement program and the potential to make ongoing discoveries, the exploration budget will be progressively increased over the next four years.
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