Newcrest’s growth strategy is built around maximising our portfolio of existing properties and exploring and developing new projects to become the next generation of long-term mines.
This growth strategy includes improving our Mineral Resource to Ore Reserve conversion by developing ore body knowledge and mining solutions, unlocking the value of our major projects and identifying new provinces for growth opportunities.
Newcrest has a policy for the Public Reporting of Exploration Results, Mineral Resources and Ore Reserves. This policy provides a clear framework for how Newcrest manages all public reporting of Exploration Results, Mineral Resources and Ore Reserves, ensuring compliance with the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code 2012). This policy applies to all regulatory reporting, public presentations and other publicly released Company information at both local (site) and corporate levels.
Governance of Newcrest’s Mineral Resources and Ore Reserves is the key responsibility of the Resources and Reserves Steering Committee (RRSC) chaired by the Executive General Manager Minerals. The role of the Committee is to ensure the proper functioning of Newcrest’s Resource and Reserves development activity, governance and reporting. The Committee’s control and assurance activities respond to a four-level compliance process:
1. Provision of standards and guidelines, and approvals consequent to these;
2. Resources and Reserves reporting process, based on well-founded assumptions and compliant with external standards (JORC Code 2012 and ASX Listing Rules);
3. External review of process conformance and compliance;
4. Internal assessment of compliance and data veracity.
Newcrest updates it’s Mineral Resources and Ore Reserves estimates on an annual basis. The Annual Statement of Mineral Resources and Ore Reserves is prepared in accordance with the (the JORC Code 2012) and ASX Listing Rules.
Competent Persons named by Newcrest are members of the Australian Institute of Mining and Metallurgy and/or the Australian Institute of Geoscientists, and qualify as Competent Persons as defined under the JORC Code 2012.
Please refer to the Resources and Reserves Statements, Exploration Reports and Technical Reports on our five material properties for more information.