Newcrest Mining chief executive Sandeep Biswas says the gold miner is examining whether a solar farm could be installed at it flagship Cadia mine in NSW to help insulate the operation from soaring electricity prices.
Newcrest Mining Mining News
Cadia - the company's biggest and lowest-cost source of gold - led to a 55-percent fall in gold output at the mine in the June quarter.
As 2017 gold price rally begins to look shaky, top listed gold producers are being punished disproportionately.
Only three of the world's largest gold producers managed to lift output in 2016 – Barrick loses 600,000 ounces of annual production but slashes costs.
Heavy losses across the board – Barrick down 4.6% in massive volumes and second tier Canadian miners hardest hit.
The miner attributed the good results to higher metals prices, increased gold and copper output and productivity improvements.
Higher commodity exports delivered a record trade surplus of $3.5 billion in December, the second monthly trade surplus Australia has recorded in nearly three years.
Newcrest's gold production dropped to 614,715 ounces in the quarter ended in December, from 615,498 ounces in the three months immediately prior and 620,691 ounces a year ago.
Ecuador began last month granting licences for new exploration areas, with over 300 of them to be awarded by the year-end.
Ten gold mines that timed the gold price rally to perfection – Barrick owns four of them.
Small but growing Australian gold producer Evolution Mining (ASX:EVN) has taken a bite out of its much larger, dual-listed rival, Newcrest Mining (ASX:NCM, TSX:NM)
Harmony Gold has been looking for new assets to meet its goal of increasing production to 1.5 million ounces over the next three years.
Two major gold stocks shot up by more than 40% in July, but there's been notable losers with Goldcorp dropping to fourth most valuable gold miner.
All-in sustaining cost of gold is $US770 per ounce.
Since production commenced in 1997, the site has produced more than 9 million ounces of gold.
Newcrest Mining says Pak Mursalim’s health remains good.
The incident happened at Gosowong's Kencana mine — the same area where two men were trapped underground for eight days in December 2010.
Suspensions at two of the company's main mines have caused Newcrest to miss estimated production targets.
After a mine technician was fatally injured at the site Sunday night.
As a result of world’s largest gold miners pulling their portfolios to pieces as a way to weather low prices and an ongoing downturn.
The revised plan for their jointly-owned Wafi-Golpu in PNG will require an initial capital spending cost of $2.3 billion.
Newcrest has slashed operating costs at its Cadia Valley operations as commercial production commenced at its newly built panel cave two.
The industry’s aggregate market capitalization improved for the sixth month in a row in June, reaching $1.75 trillion, the highest level since January 2013.
The miner, which has already settled for $1.2 million with the Australian Securities and Investments Commission, has vowed to vigorously defend the class action.
After the gold company admitted disclosure breaches on two occasions last year.