Newcrest restarts Lihir mine
Gold producer Newcrest Mining (ASX:NCM) resumed its operations at the Lihir project, in Papua New Guinea, following the resolution of a dispute lodged by the Lihir Mining Area Landowners Association (LMALA).
Australia’s largest listed gold company by market capitalization had to suspend production at its flagship mine on Tuesday since protests from the local landowners’ group kept escalating.
The announcement sent Newcrest stock down as much as 92¢, or 3.4 per cent, to $26.30 in trade.
MINING.com reported in July that Newcrest Mining is the Australian mining firm exposed to the greatest level of country risk, with 63% of its assets situated in nation-states categorized as 'very high-risk' by analysts.