Discovery of new ore bodies is an important element in Newcrest’s business strategy. Through exploration, Newcrest seeks to identify and secure large mineral districts, or provinces, in order to establish long term mining operations, while enhancing the potential for further discoveries.
Exploration at Newcrest comprises organic greenfields and brownfields exploration activities, augmented by identifying and securing exploration prospects at various stages of maturity through joint ventures with exploration juniors, together with targeted mergers and acquisitions activity.
Newcrest has a strong track record of discovering major deposits over the past 15 years, including the discovery of deposits at Cadia Hill, Cadia East and Ridgeway (all part of Cadia Valley Operations or CVO, in New South Wales, Australia), the Gosowong deposits in Indonesia and O’Callaghans at Telfer (in Western Australia). Newcrest today has ongoing greenfields exploration in Australia, Indonesia, Papua New Guinea, Fiji and Côte d'Ivoire, and brownfields exploration programs in and around our operating mines at Lihir (PNG), CVO, Gosowong and Telfer where there remains potential for further discoveries.
Newcrest has successfully secured interests in a number of emerging exploration prospects through joint ventures, including Tandai (Indonesia), Manus Island (PNG) and the proposed farm-in to the Mt Andewa exploration project (PNG).
Exploration success requires skilled and capable people supported by industry leading systems, processes and governance. Newcrest has a strong exploration team with established experience in the successful discovery of porphyry and epithermal deposits. These are well suited to Newcrest’s experience in bulk underground mining.