Australia produced 328 tonnes of gold and earned AU$25 billion from gold exports in the year 2020. More than one-fifth of the total 2020 gold production came from Newcrest’s mines. Newcrest produced 2.146 Moz of gold in 2020, which is roughly 60.84 tonnes of gold.
Newcrest operates high-grade gold mines in some of the most prolific gold regions on the Earth. The Cadia Gold Mine in New South Wales is one of the largest gold mining operations in Australia. The gold mine achieved a tremendous feat during the March 2021 quarter, reporting an all-in sustaining cost (AISC) of negative US$160/oz, which is the lowest-ever quarterly AISC figure.
The mine produced 179,546 ounces of gold and 26,324 tonnes of copper during the March 2021 quarter. To extend the life of mine (LOM), NCM is continuously exploring and developing the surrounding areas. Currently, the company is progressing on a pre-feasibility study for the development of the PC1-2 cave.
Havieron is also an advanced-stage project, located close to the Telfer asset. The company operates the project in a joint venture (JV) with Greatland Gold Plc. Newcrest can earn up to 70% interest in the JV.
The drilling campaign during the March 2021 quarter intersected gold mineralisation in all seven drilled holes. Newcrest is currently working on the Water Management Plan and securing permits and approvals for development works on the project.