Newcrest Mining posts 22% jump in annual profit

The Cadia Valley operation in New South Wales was 2018’s top producing mine, dethroning Newmont’s Boddington operation in WA. (Image courtesy of Newcrest Mining)

Newcrest Mining (ASX: NCM) on Friday posted a 22.2% increase in annual profit, buoyed by robust gold and copper sales volumes from its flagship Cadia mine in New South Wales.

Australia’s biggest listed gold miner posted an underlying profit of $561 million for the full year ended June 30, compared with $459 million a year earlier.

The Melbourne-headquartered company declared a final dividend of 14.5 cents per share, up from 11 cents a year earlier.

(By Rashmi Ashok; Editing by Maju Samuel)

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