Newcrest is one of the largest gold companies in the world with a world class portfolio of operating mines, substantial gold reserves and a strong pipeline of growth options located primarily in the Asia pacific region.
Newcrest dates back to 1966, when Newmont Mining Limited established an Australian subsidiary, Newmont Holdings Limited, which subsequently changed its name to Newmont Australia Limited. In 1990, Newmont Australia Limited acquired Australmin Holdings Ltd, subsequently merged with BHP Gold Limited and changed its name to Newcrest Mining Limited. Newcrest’s shares are listed on the Australian Stock Exchange (ASX), the Port Moresby Stock Exchange (POMSoX) and the Toronto Stock Exchange (TSX). Newcrest has been listed on the ASX since 1987 (as Newmont Australia Limited until 1990).
The company’s portfolio is comprised predominantly of low cost, long life mines and a strong pipeline of brownfields and greenfields exploration projects. Newcrest has interests in six production provinces in four countries, with a geographic focus in Australia, the Pacific region and Asia. With gold reserves currently representing more than 25 years of production, Newcrest is well-placed to generate strong cash margins from high quality gold assets over the long-term.
Newcrest has experience developing and commissioning both large scale and smaller operations. A range of low cost bulk open pit and underground mining methods are predominantly used to optimize recovery of higher grade epithermal deposits.
In recent years, Newcrest has placed significant focus on investing in strategic research and development of underground bulk-mining technologies from early concept studies to full-scale trails. Through this investment, Newcrest has advanced the technical development of caving mining methods with current application at Ridgeway and Telfer, and planned application at Cadia East and Wafi-Golpu.
Discovery of new ore bodies remains an important element in Newcrest’s strategy. A key objective of Newcrest’s exploration activities is to secure large mineral districts, or provinces, in order to establish long-term mining operations, while enhancing the potential for further discoveries. The principal targets are large porphyry related gold-copper deposits, epithermal gold-silver deposits plus orogenic and sediment-hosted gold deposits. Newcrest has a strong track record of discovering major deposits over the past 15 years, including the deposits at Cadia Hill, Cadia East, Ridgeway, Gosowong, and the O’Callaghans tungsten and base metals deposit.
In addition to the development projects located within provinces where Newcrest already has mining operations, Newcrest is currently evaluating two major prospects with significant metal endowments, namely Wafi-Golpu in Papua New Guinea (PNG) and Namosi in Fiji. Greenfield exploration activities at other sites are also ongoing in Australia, Indonesia, PNG, Fiji and Côte d’Ivoire.
As an unhedged gold producer with a sound balance sheet and strong operating cash flow, Newcrest’s financial strength, coupled with extensive technical capability and a pipeline of organic growth opportunities, ensures the company is well placed to deliver competitive returns to shareholders over the long term.