Telfer will be the largest gold mine in Australia, with projected annual production of more than 800,000 ounces of gold and 30,000 tonnes of copper for 24 years, positioning Newcrest as a significant and profitable Australian-based resources business.
Who we are:
Newcrest explores for, develops and operates gold and copper mines. Using a combination of technical skills and mining experience, we focus on the fundamental elements of resource projects to ensure strong financial returns. Newcrest’s Board and Executives are a diverse and experienced team with a strong knowledge of the mining industry. They aim to deliver growth opportunities and ultimately sustainable financial returns to Newcrest’s shareholders.
What we do:
Newcrest maintains a strategy of developing low-cost, long-life mines and also smaller high-margin mines. We aim to operate projects in the lowest cost quartile in order to maximise profitability and minimise the impact from commodity price variation. Exploration remains the key plank of our business building strategy.
How we performed:
During the 2003/04 year, Newcrest delivered a profit of $122.9 million, rising 33 percent, with Ridgeway and Toguraci performing strongly. Cadia Hill’s contribution underperformed budget. With the completion of the large Telfer gold/copper and smaller Cracow gold mines, Newcrest will continue its strong record in project delivery – from exploration through development to operations.