Newcrest Mining — H1 FY18 Earnings Presentation
69 slides from Newcrest Mining's earnings presentation, February 2018
Slide 1: Newcrest Briefing Book
Newcrest Briefing Book February 2018 0
Slide 2: Disclaimer
Disclaimer Forward Looking Statements This presentation includes forward looking statements. Forward looking statements can generally be identified by the use of words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, “outlook” and “guidance”, or other similar
Slide 3: Zero fatalities and industry leading TRIFR
Zero fatalities and First quartile First quartile Group Five breakthrough Exposure to five tier 1 industry leading TRFIR Organisation Health AISC per ounce successes orebodies
Slide 4: Our Safety Transformation Plan
Our Safety Transformation Plan Everybody going home safe and healthy every day Zero fatalities and life-changing injuries Build a stronger safety Critical controls for culture through NewSafe every high-risk task Robust process safety management Everybody making safer Verifying that the most choices
Slide 5: Safety update
Safety update FY15-FY18 YTD TRIFR1 Critical Control Management Verifications 3.6 3.7 3.3 YTD 2.6 1,030 in FY18 YTD 125,758 in FY18 FY15 FY16 FY17 H1 FY18 Integration Safety System Highlights with existing system underway • Safety Transformation remains the focus • HSE Management System Standard Proc
Slide 6: Forging a Stronger Newcrest
Forging a Stronger Newcrest 1 HAVE A LOT OF GOLD 2 LOW COST PRODUCER 3 DO WHAT WE SAY ~29 years1 $860 4 years of maintaining or exceeding reserve life HY FY18 AISC per ounce Group guidance ✓ ✓ ✓ 4 ORGANIC GROWTH 5 EXPLORATION & 6 FINANCIALLY ROBUST TECHNICAL CAPABILITY Lihir, Cadia Exploration capab
Slide 7: Newcrest retains long reserve life advantage
Newcrest retains long reserve life advantage Indicative AISC Margin - Interest Exp US$ per ounce1 Note: Width of bubble size represents relative size of gold reserves, indicative AISC margin based on $1,200 gold price $500 $400 Barrick Goldcorp $300 Newcrest $200 Kinross Newmont Gold Fields $100 Ang
Slide 8: Newcrest retains long reserve life advantage
Newcrest retains long reserve life advantage Indicative AISC Margin - Interest Exp US$ per ounce1 Note: Width of bubble size represents relative size of gold reserves, indicative AISC margin based on $1,200 gold price $500 Barrick $400 Goldcorp $300 Newcrest Newmont $200 Kinross Gold Fields $100 Ang
Slide 9: A long mine life is hard to find
A long mine life is hard to find Reserve Life of major peers (years)1 50.0 45.0 40.0 35.0 30.0 25.0 20.0 15.0 10.0 5.0 - 1 Based on producing assets held by Barrick, Newmont, Goldcorp and Newcrest with an attributable reserve >4moz. Source: Company reports as at 13 February 2018. Reserves reflect pr
Slide 10: Large ore bodies are rare
Large ore bodies are rare Reserve base of operating assets of major peers (moz)1 30.0 25.0 20.0 15.0 10.0 5.0 - 1 Based on producing assets held by Barrick, Newmont, Goldcorp and Newcrest with an attributable reserve >4moz. Source: Company reports as at 13 February 2018. Reserves reflect proven and
Slide 11: Newcrest's reserve ounces arguably undervalued
Newcrest’s reserve ounces arguably undervalued Enterprise Value to Gold Equivalent Reserve Ounce ($/oz)1 $800 $700 $600 $500 $400 $300 $200 $100 $0 1 Source: FactSet and company reports. Note: Gold equivalent values based on spot commodity prices as at 9 February 2018. Enterprise values based on lat
Slide 12: Strong total shareholder returns
Strong total shareholder returns Total Shareholder Return – 1 July 2014 to 1 February 2018 (%)1 200 150 Cumulative Total Shareholder Return (%) NCM AUD +113% 100 NCM USD +80% 50 - S&P/TSX Global Gold Index +2% (50) (100) Newcrest AUD Newcrest USD Barrick Newmont Goldcorp Kinross Gold Fields AngloGol
Slide 13: H1 FY18 key achievements
H1 FY18 key achievements Improved • Zero fatalities Safety • TRIFR1 of 2.6, 28% less than H1 FY17 • Produced 1.14moz gold and 39kt copper On track for • Remain on track to achieve guidance with H2 production expected to be FY18 stronger than H1 Guidance • Copper price guidance estimated at $2.40/lb
Slide 14: H1 FY18 summary by asset
H1 FY18 summary by asset Lihir Cadia Telfer 469 506 382 374 Production koz 431 434 413 287 301 243 222 219 216 246 164 H1 H2 H1 H2 H1 H1 H2 H1 H2 H1 H1 H2 H1 H2 H1 FY16 FY17 FY18 FY16 FY17 FY18 FY16 FY17 FY18 1,086 1,391 890 913 1,227 AISC $/oz 779 810 979 1,026 955 295 258 246 217 135 H1 H2 H1 H2 H
Slide 15: H1 FY18 summary by asset
H1 FY18 summary by asset Gosowong Bonikro 74 78 Production koz 173 64 67 141 61 123 128 57 H1 H2 H1 H2 H1 H1 H2 H1 H2 H1 FY16 FY17 FY18 FY16 FY17 FY18 1,494 AISC $/oz 867 1,106 1,078 1,131 737 825 687 797 735 H1 H2 H1 H2 H1 H1 H2 H1 H2 H1 FY16 FY17 FY18 FY16 FY17 FY18 • Adversely impacted by lower h
Slide 16: Cadia – Cash generation plus growth potential
Cadia – Cash generation plus growth potential Cadia Site Process Key Statistics 1 Element Description Gold Reserve Life: ~46 years Gold Reserves: 25 moz Mining Panel Cave mining from Gold Resources: 42 moz Cadia East (Panel Cave 1 and 2), with underground Copper Reserves: 4.3 mt crushing and conveyo
Slide 17: Cadia – a world class facility
Cadia – a world class facility Low cost Long life Organic growth One of the lowest all- 46 years Future growth in sustaining costs of reserve life2 through mine ramp any gold mine in the up and increased world1 processing 1 Based on FY17 AISC 2 Reserve life is indicative and calculated as proven and
Slide 18: Value add through technical innovation
Value add through technical innovation 1 Ore reserve & Mineral resource enhanced by bulk underground mining approach 40 Ore Reserve Mineral Resource moz 20 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 1 Historical ore reserve and mineral resource figure
Slide 19: Cadia – Low cost expansion to 30mtpa
Cadia – Low cost expansion to 30mtpa1,2 • Targeting new processing baseline of 30mtpa by end of June 2018 • Low capital expenditure approximately $10m • Applying learnings from seismic event to Mining Prefeasibility Study PC10 PC5 PC3 PC1 • Completion of Expansion Prefeasibility Study to PC2 PC4 ali
Slide 20: Review of historical Cadia East capital costs
Review of historical Cadia East capital costs Approximate Cost Item Physical Cost Rate Detail (A$M) Mine Concrete roadways, cuddies, stockpiles, Decline ~240 8km x 2 declines A$15,000/m etc. Conveyors & Transfer ~170 8km A$20,000/m Conveyors to surface stations 2 2 PC1 Macro-block ~210 70,000m A$3,0
Slide 21: Cadia Molybdenum Plant Pre-Feasibility Study
Cadia Molybdenum Plant Pre- Feasibility Study 1 PFS Key Findings Mo plant First stage Cu-Mo Bulk IRR: >20% feed tank separation concentrate Capital cost: <$100m thickener First production: CY 2020 By-product credit AISC: around $30/oz2 Regrind mill Holding Final Cu tank concentrate Proposed faciliti
Slide 22: Lihir – Turnaround continues
Lihir Lihir – Turnaround continues Site Process Key Statistics 1 Gold Reserve Life: ~27 years Element Description Gold Reserves: 25 moz Mining Open pit drill, blast, load Gold Resources: 52 moz and haul mining, currently in Phase 9 of Minifie Pit and FY18 Prod. Guidance: 880-980koz Au2 Phase 14 in L
Slide 23: Lihir – one of the largest gold deposits in the world
Lihir – one of the largest gold deposits in the world Longevity Attractive Organic growth 27 years of Margins Setting and achieving reserve life1 and 57 ~$209/ounce2 growth in mill throughput years resource life rates 1 Reserve life is indicative and calculated as proven and probable gold reserves (
Slide 24: Lihir's increased throughput lowers AISC per oz
Lihir’s increased throughput lowers AISC per oz 15mtpa 12mtpa 13mtpa 14mtpa By end of June By December 2015 By December 2016 By December 20171 20191 ✓ Achieved with 12.4mtpa ✓ Achieved with 13mtpa in × Expected early 2018 • Current target in December 2015 December 2016 quarter calendar year quarter
Slide 25: Organic growth options at Lihir
Organic growth options at Lihir1 • Steady increase in mill throughput • Since plant expansion completed in FY13, only small expansion capital spend • Aspirational target of 17mtpa – multiple potential avenues to achieve FY19 • Improved reliability Target: FY18 15mtpa • Low capital options Target: FY
Slide 26: Lihir - indicative mine plan
Lihir - indicative mine plan Mineral Resource & Ore Reserves1 Gold Dry Tonnes Grade Insitu Gold (Millions) (g/t) (Moz) Ore Reserves 340 2.3 25 Mineral 710 2.3 52 Resources Proposed indicative development of Lihir mining operations 2 Timing Total Material Tonnes to Ex-pit Tonnes Stockpile Tonnes Aver
Slide 27: Wafi-Golpu study ongoing
Wafi-Golpu1 study ongoing • Progressing work plan Work plan Geotechnical interpretation • Deep Sea Tailings Placement (DSTP) analysis completed Q2 FY18 Hydrology • Business case to be updated and optimised for work plan results Business case • Updated study findings expected to be completed Q3 FY18
Slide 28: Telfer – Seeking to maximise value
Telfer Telfer – Seeking to maximise value Site Process Key Statistics 1 Element Description Gold Reserve Life: ~6 years Gold Reserves: 2.4 moz Mining Open pit mining contracted to Macmahon Gold Resources: 8.2 moz Copper Reserves: 0.21 mt Underground sub-level cave Copper Resources: 0.66 mt and stope
Slide 29: Telfer – Indicative mine plan
Telfer – Indicative mine plan Mineral Resource & Ore Reserves1 Cutback Timetable – FY18 onwards2,3 Timing Gold Copper Pit Cutback Stage Indicative Cost (years) Dry Tonnes Grade Insitu Gold Dry Tonnes Insitu FY18-19 Main Dome Stage 6/7 $10-20m Grade (%) (Million) (g/t) (Moz) (Million) Copper (Mt) FY1
Slide 30: Telfer hedge profile
Telfer hedge profile Financial Year Ending Gold Ounces Hedged Average Price A$/oz 30 June 20181 129,356 1,770 30 June 2019 231,224 1,739 30 June 2020 183,231 1,716 Total 543,811 1,739 • Telfer is a large scale, low grade mine and its profitability and cashflow are both very sensitive to the realised
Slide 31: Gosowong – Strong free cash flow contributor
Gosowong Gosowong – Strong free cash flow contributor Site Process Key Statistics1 Gold Reserve Life: ~2 years2 Element Description Gold Reserves: 0.48 moz Mining Underground mining using Gold Resources: 1.2 moz predominantly underhand cut-and-fill (Kencana) and 3 FY18 Prod. Guidance: 230-290koz Au
Slide 32: Gosowong – Indicative mine plan
Gosowong – Indicative mine plan Mineral Resource & Ore Reserves1 Gold Silver Dry Tonnes Grade Insitu Gold Grade Insitu Silver (millions) (g/t) (Moz) (g/t) (Moz) Ore Reserves 1.9 8.0 0.48 10 0.62 Mineral 3.7 10 1.2 14 1.7 Resources Proposed indicative development of Gosowong mining operations 2,3 Tim
Slide 33: Unique suite of capabilities in the gold industry
Unique suite of capabilities in the gold industry Lihir, Telfer Telfer Gosowong Telfer Cadia Open pit Selective Reef Underground Narrow Vein Bulk Sublevel Caving Underground Block Caving Large scale comminution Pressure oxidation Processing Copper-gold flotation Cyanide & carbon in leach 32
Slide 34: Pivoting more to profitable growth
Pivoting more to profitable growth Near term Medium term Longer term objectives objectives objectives (0-2yrs) (2-10yr) (10+yr) • Lihir 15mtpa mill throughput • Lihir beyond 15mtpa mill • Early stage entry pipeline rate target1 throughput rate target1 • Porphyry exploration targets • Cadia 30mtpa mi
Slide 35: Targeting orebodies which fit our skills
Targeting orebodies which fit our skills Cote d’Ivoire Australia Ecuador • Seguela Project (100%) • Mendooran project (O & FI) • SolGold Investment (EI) • OSEAD Project (FI) • Second Junction Reefs project (JV) • Randgold JV (50%) Argentina • Sinaim Project (O) Indonesia • Pedernales • Antam Allianc
Slide 36: Experienced exploration team
Experienced exploration team 1 Long life mines = time to explore Approach to smarter targeting 2 Smarter targeting for deeper deposits 3 Ability to mine all types of ore bodies Depth of Discoveries Source: Minex consulting 2016 35
Slide 37: Deep exploration capability key for next discovery
Deep exploration capability key for next discovery 1 Better than average ground selection Advanced exploration models 2 Low level pathfinder geochemistry 3 Targeted use of technology Micro-scale gold mapping in pyrite 4 Smarter and rapid interpretation of data Data Cloud Drill early and often 5 6 Cr
Slide 38: Randgold alliance enhances discovery potential
Randgold alliance enhances discovery potential 1• JV with another successful explorer / BURKINA FASO operator 2• Cote D’Ivoire is underexplored ground GHANA Seguela COTE D’IVOIRE in West Africa Bonikro 3• Willing to be non-operator RANDGOLD JV AREA OF INTEREST given Randgold’s performance in the reg
Slide 39: Disciplined approach to growth
Disciplined approach to growth • Continued focus on exploration • Pursue attractive early stage entry opportunities • Actively explore partnerships to manage risk and access opportunities • Small, dedicated team that reviews and evaluates M&A opportunities Potential Value Adding Pathways Technical C
Slide 40: Our performance Edge
Our performance Edge The vision Measure of success Our relentless drive to realise the Safely maximising cash generation full potential of our assets 1 2 3 Stretch Targets Owner’s Mindset Operating discipline Aspirational targets that drive A strong owner’s mindset and Rapidly identify and capture b
Slide 41: Our technology and innovation plan
Our technology and innovation plan The vision Measure of success Unlock full potential of assets through Quickly transform tough innovation and step change thinking deposits into tier one assets 1 2 3 Transformative Collaboration and Fast Vision Experimentation Adoption + + Realise full potential of
Slide 42: Data science to help drive increased up time on Cadia critical conveyors
Data science to help drive increased up time on Cadia critical conveyors Six trunk conveyors from production level to surface in mine constrained Challenge operation. Any conveyor downtime has an impact on the site production output Extraction of 4-years of data on conveyor vibration, temperature, s
Slide 43: Our people plan
Our people plan Our people vision Measure of success Talented people working together to High performance no-nonsense culture with top their full potential quartile organisational health 1 2 3 Get the basics Develop our Create a diverse right people and and inclusive + capability + environment The r
Slide 44: An aligned executive remuneration structure
An aligned executive remuneration structure 1 Short Term Incentive Criteria Sustainable & Safety Safe Performance 25% 25% Operational Personal Business Earnings Performance measures measures 25% 25% 40% 60% Value & Costs Cash Generation 25% 25% Strategy/Growth FCF 25% 25% Long Term Incentive Criteri
Slide 45: Delivering on Edge focus on cash generation
Delivering on Edge focus on cash generation Eight consecutive halves of positive free cash flow ($m) 639 560 481 355 254 258 214 134 FY14 H2 FY15 H1 FY15 H2 FY16 H1 FY16 H2 FY17 H1 FY17 H2 FY18 H1 44
Slide 46: Improved balance sheet strength
Improved balance sheet strength Debt, Cash and Leverage1,2 (times) ($m) 4,500 3.0 4,000 2.5 3,500 3,000 2.0 2,500 1.5 2,000 1,500 1.0 1,000 500 0.5 - FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 H1 FY18 - (500) (1,000) (0.5) US Private Placement Notes Corporate Bonds Other Bilateral Bank Debt Cash (as ne
Slide 47: Good debt structure and clean balance sheet
Good debt structure and clean balance sheet Maturity profile as at 31 December 20171 ($m) 1,200 Corporate Bonds 900 600 300 - FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY42 • FY17 – Fully repaid US Private Placement debt and drawn bank facilities • No goodwill remaining on the balance sheet • Relative
Slide 48: Improving financial policy metrics
Improving financial policy metrics Element Target 30 June 2016 30 June 2017 31 December 2017 Leverage ratio Less than 2.0x Financial Metrics 1.6x 1.1x 1.2x (Net Debt / EBITDA) (for trailing 12 months) Gearing Ratio Less than 25% 23% 16.6% 15.9% Credit rating Aim to maintain investment grade Investme
Slide 49: Focused on returns to shareholders
Focused on returns to shareholders Dividend Policy1 Newcrest’s dividend policy seeks to balance financial performance and capital commitments with a prudent leverage and gearing level for the Company. Newcrest looks to pay ordinary dividends that are sustainable over time having regard to its financ
Slide 50: First Half FY18 Financial Results
First Half FY18 Financial Results Underlying Profit Movement ($m) Revenue Operating Costs Depreciation & $(90) million $(32) million Amortisation $(75) million 59 21 273 (114) (53) 68 1 (3) (17) (15) (69) (6) 116 (12) (17) H1 FY17 H1 FY18 Exploration Copper price Corporate and other Copper sales vol
Slide 51: Free cash flow reconciliation H1 FY17 to H1 FY18
Free cash flow reconciliation H1 FY17 to H1 FY18 Decrease in operating Working Operating cashflow Volume Price Income tax capital Interest paid costs & other ($m) 79 6 31 (49) (148) (46) (169) 41 258 38 (148) (14) 134 (41) H1 FY17 Decrease in Production stripping Major projects Exploration Sale of s
Slide 52: Long-term metal assumptions used for Reserves and Resources estimates
Long-term metal assumptions used for Reserves and Resources estimates1 Long Term Metal Newcrest & Assumptions MMJV Mineral Resources Estimates Gold Price US$1,300/oz Copper Price US$3.40/lb2 Silver Price US$21.00/oz Ore Reserves Estimates Gold Price US$1,200/oz Copper Price US$3.00/lb3 Silver Price
Slide 53: Mineral Resources and Ore Reserves – Gold Mineral Resources
Mineral Resources and Ore Reserves 31 December 2017 Gold Mineral Resources1 Comparison to Dec-16 Dec-17 Mineral Resources Measured Resource Indicated Resource Inferred Resource Dec-17 Total Resource Total Resource Competent Person Dry Gold Dry Gold Dry Gold Dry Gold Insitu Gold Dry Gold Insitu Gold
Slide 54: Mineral Resources and Ore Reserves – Copper Mineral Resources
Mineral Resources and Ore Reserves 31 December 2017 Copper Mineral Resources1 Comparison to Dec-16 Dec-17 Mineral Resources Measured Resource Indicated Resource Inferred Resource Dec-17 Total Resource Total Resource Competent Person Dry Copper Dry Copper Dry Copper Dry Copper Insitu Copper Dry Coppe
Slide 55: Mineral Resources and Ore Reserves – Gold Ore Reserves
Mineral Resources and Ore Reserves 31 December 2017 Gold Ore Reserves1 Comparison to Dec-16 Dec-17 Ore Reserves Proved Reserve Probable Reserve Dec-17 Total Reserve Total Reserve Competent Person Dry Gold Dry Gold Dry Gold Insitu Gold Dry Gold Insitu Gold Gold Ore Reserves Tonnes Grade Tonnes Grade
Slide 56: Mineral Resources and Ore Reserves – Copper Ore Reserves
Mineral Resources and Ore Reserves 31 December 2017 Copper Ore Reserves1 Comparison to Dec-16 Total Dec-17 Ore Reserves Proved Reserve Probable Reserve Dec-17 Total Reserve Reserve Competent Person Dry Copper Dry Copper Dry Copper Insitu Copper Dry Copper Insitu Copper Copper Ore Reserves Tonnes Gra
Slide 57: Supply & demand data
Supply & demand data Gold demand & supply (tonnes)1 China and India make up 2016 2017 >50% of jewellery Jewellery 2,053.6 47% 2,135.5 52% demand Technology 323.4 7% 332.8 8% Electronics 255.6 6% 265.3 7% Other Industrial 49.8 1% 50.6 1% Dentistry 18.0 0% 16.8 0% Investment 1,595.5 37% 1,231.9 30% To
Slide 58: Supply & demand data (cont)
Supply & demand data (cont) Gold demand by jurisdiction1 Supply by jurisdiction2 Jewellery 2017 Country % Greater China 697 33% China 14% India 563 26% Australia 9% Middle East 191 9% Russia 8% Americas 172 8% United States 7% Other Asia 164 8% Peru 5% Europe ex CIS 74 3% South Africa 5% Other 275 1
Slide 59: Supply & demand data (cont)
Supply & demand data (cont) Number of discoveries decreasing … and taking longer to go from – especially large deposits1 discovery to production1 1 Source: MinEx Consulting 2 Source: MinEx Consulting, Aug 2014. Analysis based on 1,294 primary gold deposits >0.1 Moz found in the World between 1975-20
Slide 60: Volatility of gold versus other metals
Volatility of gold versus other metals Gold price 2011 to 2017 (US$/oz)2 High price as % low prices since January 20111 2,000 500% 450% 1,800 400% 1,600 350% 300% 1,400 250% 200% 1,200 150% 1,000 100% 3 year trading range $1,051 - $1,366/oz 50% 800 0% 600 Jan Jan Jan Jan Jan Jan Jan Jan 11 12 13 14
Slide 61: Gold has acted as investment hedge
Gold has acted as investment hedge Asset class performance following major events 20% 0% -20% -40% -60% Gulf War I 9/11 2002 GFC recession Gold US Equities Commodities Real Estate Private Equity Source: Extract of data from The Strategic Case for Investing in Gold, September 2016, D Mazza. Cites Fac
Slide 62: Operating costs – exchange rate exposure estimates
Operating costs – exchange rate exposure estimates Newcrest is a US dollar reporting entity, its operating costs will vary in accordance with the movements in its operating currencies where those costs are not denominated in US dollars. The table below shows indicative currency exposures on operatin
Slide 63: Operating costs – indicative costs by type
Operating costs – indicative costs by type 1 The below represents an indicative exposure on operating costs by a variety of spend types (H1 FY18) Maintenance Energy and Labour 2 Consumables (excl labour) Other3 Total Fuel and Parts Cadia 40% 15% 10% 20% 15% 100% Telfer 30% 15% 15% 10% 30% 100% Lihir
Slide 64: Foreign exchange sensitivities and oil hedges
Foreign exchange sensitivities1 and oil hedges Approximate Full Year Site Parameter Movement EBIT Impact (US$m) Cadia AUD/USD +0.01 AUD (0.80 → 0.81) (8) Telfer AUD/USD +0.01 AUD (0.80 → 0.81) (4) Lihir USD/PGK -0.1 PGK (3.15 → 3.05) (9) Gosowong USD/IDR -1,000 IDR (13,500 → 12,500) (12) Bonikro USD
Slide 65: "Underlying Profit" reconciliation
“Underlying Profit” reconciliation 6 months ended 31 December 2017 31 December 2016 US$m US$m Statutory Profit 98 187 Loss on business divestment - 10 1 Net investment hedge loss - 62 Write-down of non-current assets1 12 14 Write-down of tax asset1 6 - Total Significant Items 18 86 Underlying Profit
Slide 66: AISC and AIC to cost of sales reconciliation
AISC and AIC to cost of sales reconciliation 6 months to 31 December 2017 6 months to 31 December 2016 US$m US$/oz US$m US$/oz Gold sales (koz)1 1,126 1,215 Cost of Sales2 1,349 1,198 1,292 1,063 less Depreciation and amortisation (388) (344) (313) (258) less By-product revenue (258) (229) (255) (21
Slide 67: H1 FY18 results
H1 FY18 results Element Cadia Lihir Telfer Goso- Bonikro Wafi- Corp / Group wong Golpu Other Gold Production (koz) 301 413 216 128 78 1,136 Copper Production (kt) 30 9 39 AISC ($m) 38 452 261 119 54 45 969 Capital Expenditure - Production Stripping1 - 60 16 - 6 - - 82 - Sustaining Capital1 21 57 28
Slide 68: FY18 guidance
FY18 guidance1 Element Cadia Lihir Telfer Goso- Bonikro Wafi- Corp / Group wong Golpu Other Gold Production (koz) 680-780 880-980 440-500 230-290 130-155 - - 2,400-2,700 Copper Production (kt) ~70 - ~15 - - - - 80-90 AISC ($m) 255-295 800-885 580-620 220-240 125-140 - 90-100 2,100-2,250 Capital Expe
Slide 69: Newcrest Mining Limited
NEWCREST MINING LIMITED Board Forward Shareholder Enquiries to Peter Hay Non-Executive Chairman Link Market Services Sandeep Biswas Managing Director and CEO Tower 4, 727 Collins Street Gerard Bond Finance Director and CFO Melbourne, Victoria, 3000 Philip Aiken AM Non-Executive Director Australia Ro