New South Wales a shining light for Newcrest

摘要

Newcrest Mining Ltd enjoyed a stellar year in 2007/08, not least because of the performance of its New South Wales operations at Cadia Valley. The company set a full year gold production record of 1.78 moz, with Cadia Hill and Ridge-way underground contributing a record 715,588oz, an increase of nearly 155,000oz over the previous year. The 10 percent increase in production was just one of a host of good results during the year for the company. Despite cost increase pressure at all sites, particularly the Telfer operation, group cash costs decreased by 7 percent to 261 dollars/ oz (total costs were steady at 416 dollars/oz), underlying profit increased by 158 percent to 493.9 million dollars and cash flow from all operations increased by 163 percent to top the 1 billion dollars mark.