Newcrest Mining Limited Update on Cadia expansion
Update on Cadia expansion: Newcrest Mining Limited (ASX: NCM) has indicated for about 27 years of reserve life and low cost production ($751 Q1-3 FY17 ASIC per ounce) as its key attributes as a gold miner. Recently, NCM’s prefeasibility study on the proposed expansion to the Cadia processing plant has been completed and the approval of the study is pending. Therefore, it has been decided to move ahead with the permit modification process while NCM is undertaking community consultation to increase the processing and ore production permitted capacity to 35 million tonnes per annum (mtpa). Meanwhile, NCM stock has risen 3.5% in the last six months (as on May 24, 2017), but is trading at a higher level in comparison to peers.
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