GOLD MINES AND MINING – PAPUA NEW GUINEA

Lihir mine finally shines for Newcrest

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Original article by Nick Evans
The Australian – Page: 19 : 20-Aug-21

Newcrest Mining has posted a record $US1.16bn profit for 2020-21, with EBITDA of $US2.44bn and revenue of $US4.58bn. Newcrest produced 2.1 million tonnes of gold during the financial year, at an average all-in-sustaining cost of $US911 an ounce. Meanwhile, CEO Sandeep Biswas believes that new mining methods could allow the company to lift production at its Lihir mine in Papua New Guinea to one million ounces per year. Shareholders will receive a final dividend of $US0.40 per share, and a full-year payout of $0.55.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM

St Barbara in the PNG tent as $206m Simberi decision looms

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Original article by Peter Ker
The Australian Financial Review – Page: 15 : 11-Jan-21

The mine life of St Barbara’s Simberi gold project in Papua New Guinea would be extended by about 11 years if a proposed $206m expansion proceeds. The gold miner’s board is slated to make a decision on the expansion in March, and CEO Craig Jetson is optimistic that the PNG government will approve the expansion. It would require changes to the mining permit for the Simberi project, at a time when the PNG government has been increasingly hostile toward foreign mining companies.

CORPORATES
ST BARBARA LIMITED – ASX SBM

Newcrest axes FIFO route into PNG’s Lihir mine

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Original article by Peter Ker
The Australian Financial Review – Page: 23 : 20-Mar-20

Newcrest Mining has responded to the coronavirus pandemic by suspending the use of Australian fly-in, fly-out workers at the Lihir gold mine in Papua New Guinea. The move will take effect within days, but Newcrest will continue to use FIFO workers at its mines in Australia. The company has noted that it primarily uses local workers at Lihir, rather than employees on FIFO arrangements. Australia’s gold, iron ore, copper, oil and gas sectors are particularly reliant on FIFO workers.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM

Bigger isn’t better says CEO as Newcrest doubles its profit

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Original article by Paul Garvey
The Australian – Page: 20 : 15-Feb-19

Newcrest Mining has posted a 2018-19 interim net profit of $US237m ($334m), compared with $US98m previously. CEO Sandeep Biswas says the gold miner is well-placed to capitalise on any acquisition opportunities, but stresses that a deal would have to add value for shareholders. Biswas adds that mining companies should not pursue mergers and acquisitions simply to become larger unless the deal will add value. Newcrest shareholders will receive an interim dividend of $US0.075 per share.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, NEWMONT MINING CORPORATION, GOLDCORP INCORPORATED, BARRICK GOLD CORPORATION, RANDGOLD RESOURCES LIMITED, LUNDIN MINING CORPORATION, SOLGOLD PLC

Lihir gold output to hit 1 million oz: Newcrest

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Original article by Peter Ker
The Australian Financial Review – Page: 24 : 23-Aug-18

Newcrest Mining has posted a 2017-18 net profit of $US202m, which is 34 per cent lower than previously. A $US155m insurance payout arising from seismic events at the Cadia mine partially offset impairment charges associated with other assets. Newcrest has also advised that gold production at its Lihir mine is expected to be within the range of 950,000 and 1.05 million ounces in 2018-19. Rival gold miners St Barbara and Saracen Mineral Holdings have reported net profits of $227m and $75.6m respectively.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, ST BARBARA LIMITED – ASX SBM, SARACEN MINERAL HOLDINGS LIMITED – ASX SAR

Newcrest ramps up Cadia mine’s output

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Original article by Peter Ker
The Australian Financial Review – Page: 22 : 27-Oct-17

Newcrest Mining’s gold production for the September quarter was slightly below analysts’ forecasts, at 522,917 ounces. However, Newcrest had flagged lower output for the quarter due to maintenance work at its Lihir mine in Papua New Guinea. Newcrest has also advised that it has resumed production at both caves at the Telfer mine, where mining was disrupted by a "seismic event" in April. The company expects to have access to all parts of the mine by the end of 2017.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, RBC CAPITAL MARKETS

Lihir digs in to get Newcrest on target

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Original article by Paul Garvey
The Australian – Page: 20 : 25-Jul-17

Newcrest Mining’s gold production totalled 551,815 ounces in the June 2017 quarter, compared with 598,602 ­ounces in the March quarter. However, record quarterly output of 276,230 ounces at the Lihir mine in Papua New Guinea helped offset lost output at the Cadia mine in New South Wales. Full production at Cadia is expected to resume in the September quarter, following earthquake damage in April. Meanwhile, Newcrest has applied for 40 exploration tenements in Ecuador.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, SOLGOLD PLC, RBC CAPITAL MARKETS, GOLDMAN SACHS AUSTRALIA PTY LTD

Dividends back at Newcrest

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Original article by Barry FitzGerald
The Australian – Page: 21 : 26-Jul-16

Australian-listed Newcrest Mining produced 598,037 ounces of gold during the June 2016 quarter, compared with 636,521 ounces in the March quarter. Full-year output was at the lower end of its guidance of between 2.4 million and 2.6 million ounces. However, the group slashed its net debt by 27 per cent to $A2.1bn in 2015-16, prompting some analysts to forecast that it will pay a dividend for the first time since 2013.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, CREDIT SUISSE (AUSTRALIA) LIMITED

Rio cuts ties with Bougainville

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Original article by Barry FitzGerald
The Australian – Page: 21 & 24 : 1-Jul-16

Australian-listed Rio Tinto has transferred its stake in Bougainville Copper Limited to the Bougainville and Papua New Guinea governments. Rio Tinto’s Chris Salisbury says the resources giant considered a number of options regarding the Panguna copper and gold mine on Bougainville island before deciding to exit the project by distributing its shareholding to the provincial and national governments.

CORPORATES
RIO TINTO LIMITED – ASX RIO, BOUGAINVILLE COPPER LIMITED – ASX BOC, BHP BILLITON LIMITED – ASX BHP

Newcrest pays $36m to settle class action

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Original article by Barry FitzGerald
The Australian – Page: 20 : 23-Feb-16

Gold producer Newcrest Mining has agreed to a $A36m out-of-court settlement in a class action over its disclosure standards. The case was scheduled to begin on 29 February 2016, but Newcrest has decided that a settlement is in the best interests of shareholders. Plaintiff law firm Slater & Gordon initiated a class action on behalf of shareholders with regard to Newcrest’s breach of continuous disclosure requirements in 2012 and 2013.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, SLATER AND GORDON LIMITED – ASX SGH, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION