Boddington Expansion Project
(22.2 percent)

In 2001, mining and processing of oxide resources at Boddington ended. Since that time the project has remained on care and maintenance while project studies and exploration activities continue.

Boddington hosts a substantial basement mineral resource containing 20 million ounces of gold and 800 kilotonnes of copper and ore reserves containing in excess of 10 million ounces of gold (100 percent terms) within existing mining leases. These resources form the basis of the Boddington Expansion Project.

A Study Team was established for the purpose of reviewing, optimising and updating the earlier feasibility study completed in 2000.

Along with our joint venture partners, Anglogold/Ashanti and Newmont Mining, review of the work of the Study Team continued during 2004 with the aim of completing the updated study in 2005.

During the year Newcrest also conducted additional reviews of various aspects of the Boddington Expansion Project feasibility including:

• A review of the geological controls and assumptions underlying the resource estimate
• A review of key components of the ore processing flow sheet; and
• A broad review of the potential impact of these on project scope.

The Boddington Expansion Project is situated in a geographically favourable location. Key permitting is already established for the project, and Newcrest, like its partners, wishes to progress the project as quickly as practicable.

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