Newcrest Mining — FY2017 Earnings Presentation
72 slides from Newcrest Mining's earnings presentation, August 2017
Slide 1: FY17 Results (Briefing Book)
FY17 Results (Briefing Book) August 2017 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: Forging a stronger Newcrest
Forging a stronger Newcrest Our mission Our vision Our Edge To be the Miner of Choice™ Ahigh performance, no-nonsense culture focused on: To deliver superior returns from finding, developing and operating We will lead the way in safe, responsible, Safety gold/copper mines. efficient and profitable m
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 FY14-FY17 TRIFR (per million man hours)1 Critical Control Management Verifications 4 3 1,945 2 in FY17 1 176,254 in FY17 0 FY14 FY15 FY16 FY17 Field Safety System Highlights testing underway • Safety Transformation remains the focus • HSE Management System and Standards Process Safety
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 ~27 years1 $787 4 years of maintaining or exceeding reserve life FY17 AISC per ounce Group guidance 4 ORGANIC GROWTH 5 EXPLORATION & 6 FINANCIALLY ROBUST TECHNICAL CAPABILITY Lihir, Cadia Exploration capabili
Slide 7: Newcrest retains long reserve life advantage
Newcrest retains long reserve life advantage Indicative AISC Margin - Interest Exp US$ 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 Newcrest Goldcorp $300 $200 Newmont Kinross 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 Newcrest Goldcorp $300 Newmont $200 Kinross Gold Fields $100 Ang
Slide 9: Newcrest’s reserve ounces arguably undervalued
Newcrest’s reserve ounces arguably undervalued Enterprise Value to Gold Equivalent Reserve Ounce ($/oz)1 $600 $500 $400 $300 $200 $100 $0 1 Source: FactSet and company reports. Note: Gold equivalent values based on spot commodity prices as at 2 August 2017. Enterprise values based on latest availabl
Slide 10: Strong total shareholder return over years
Strong total shareholder return over 3 years Total Shareholder Return – 1 July 2014 to 30 June 2017 (%)1 200 Cumulative Total Shareholder Return (%) 150 100 NCM AUD +88% 50 NCM USD +52% - Gold Index +2% (50) (100) 1/07/2014 1/01/2015 1/07/2015 1/01/2016 1/07/2016 1/01/2017 Newcrest AUD Newcrest USD
Slide 11: FY17 key achievements
FY17 key achievements Improved • Zero fatalities Safety • TRIFR1 of 3.3, 10% lower than FY16 • Produced 2.38moz gold and 84kt copper, including record Lihir production Achieved Group • Four years in a row of meeting or exceeding Group production guidance Guidance • Within or below Group AISC costs,
Slide 12: FY17 summary by asset
FY17 summary by asset Lihir Cadia Telfer Production koz 900 940 721 689 667 669 593 620 536 520 462 386 FY14 FY15 FY16 FY17 FY14 FY15 FY16 FY17 FY14 FY15 FY16 FY17 1,158 1,156 1,178 925 967 AISC $/oz 830 858 791 299 274 241 203 FY14 FY15 FY16 FY17 FY14 FY15 FY16 FY17 FY14 FY15 FY16 FY17 • Achieved 1
Slide 13: FY17 summary by asset
FY17 summary by asset Gosowong Bonikro Production koz 345 332 296 197 120 138 128 95 FY14 FY15 FY16 FY17 FY14 FY15 FY16 FY17 1,099 1,105 935 941 AISC $/oz 756 719 757 738 FY14 FY15 FY16 FY17 FY14 FY15 FY16 FY17 • Exceeded gold production guidance • $38 million in free cash flow before tax • $142 mil
Slide 14: Profitable growth from Cadia and Lihir drives improved AISC
Profitable growth from Cadia and Lihir drives improved AISC Gold Price and Newcrest AISC ($/oz)1 • Reflects focus on operational discipline and cash generation • Newcrest has moved down the cost curve 1318 • Three years of AISC below $800/oz • Strong cash margins 897 780 787 762 FY13 FY14 FY15 FY16
Slide 15: Deliver on commitments
Deliver on commitments Improved safety record – FY17 fatality free Four years in a row of meeting or exceeding Group production guidance Achieved Lihir mill throughput targets 12mtpa December 2015 13mtpa December 2016 Recommenced dividend payments August 2016 Lowered Group AISC from $1,3
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: ~40 years Gold Reserves: 25 moz Mining Panel Cave mining from Gold Resources: 43 moz Cadia East (Panel Cave 1 and 2), with underground Copper Reserves: 4.4 mt crushing and conveyo
Slide 17: Cadia recovering from seismic event
Cadia recovering from seismic event1 What happened Activities to date Forward plan • 14 April 2017 seismic event • Production from PC2 has • Ore production expected to impacted Cadia recommenced after recommence in PC1 successful ‘test and September 2017 quarter2 • All personnel safely response’ pha
Slide 18: Learning from adversity
Learning from adversity • Ground support worked as planned Completed GSM - Ausro Straps and cables • Learnings taken from seismic event • Remediation and upgrade work designed to protect against similar events • Knowledge to be applied to future block caves 17
Slide 19: 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 1 Historical ore reserve and mineral resource figures sou
Slide 20: 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 $10m • Applying learnings from seismic event to Mining Prefeasibility Study PC10 PC5 PC3 PC1 • Gating of Expansion PFS to Feasibility Study to PC2 PC4 ali
Slide 21: Review of historical Cadia East capital costs
Review of historical Cadia East capital costs Approximate Cost Item Physical Cost Rate Detail (A$M) Mine Decline ~240 8km x 2 declines A$15,000/m Concrete roadways, cuddies, stockpiles, etc. Conveyors & Transfer stations ~170 8km A$20,000/m Conveyors to surface 2 2 PC1 Macro-block ~210 70,000m A$3,0
Slide 22: Lihir – Turnaround continues
Lihir Lihir – Turnaround continues Site Process Key Statistics 1 Gold Reserve Life: ~28 years Element Description Gold Reserves: 26 moz Mining Open pit drill, blast, load Gold Resources: 56 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’s increased throughput lowers AISC per oz
Lihir’s increased throughput lowers AISC per oz 12mtpa 13mtpa 14mtpa By December 2015 By December 2016 By December 20171 Achieved with 12.4mtpa in Achieved with 13mtpa in • Current target December 2015 quarter December 2016 quarter Lihir mill throughput (quarterly data annualised) AISC falls in
Slide 24: 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 Beyond FY18 14mtpa • Low capital options Target: FY
Slide 25: Lihir - indicative mine plan
Lihir - indicative mine plan Mineral Resource & Ore Reserves1 Gold Dry Tonnes Grade Insitu Gold (Millions) (g/t) (Moz) Ore Reserves 360 2.3 26 Mineral 800 2.2 56 Resources Proposed indicative development of Lihir mining operations 2 Timing Total Material Tonnes to Ex-pit Tonnes Stockpile Tonnes Aver
Slide 26: Wafi-Golpu study ongoing
Wafi-Golpu1 study ongoing • Progressing work plan Work plan Geotechnical interpretation • Deep Sea Tailings Placement (DSTP) analysis expected to be completed Q2 FY18 Hydrology • Business case to be updated and optimised for work plan results Business case • Updated study findings expected to be com
Slide 27: Telfer – Seeking to maximise value
Telfer Telfer – Seeking to maximise value Site Process Key Statistics 1 Element Description Gold Reserve Life: ~8 years Gold Reserves: 3.1 moz Mining Open pit mining contracted to Macmahon Gold Resources: 9.5 moz Copper Reserves: 0.24 mt Underground sub-level cave Copper Resources: 0.75 mt and stope
Slide 28: 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 $10-20m Grade (%) (Million) (g/t) (Moz) (Million) Copper (Mt) FY1
Slide 29: Telfer hedge profile
Telfer hedge profile Financial Year Ending Gold Ounces Hedged Average Price A$/oz 30 June 20171 300,694 1,730 30 June 2018 294,697 1,765 30 June 2019 135,044 1,767 Total 730,435 1,751 • Telfer is a large scale, low grade mine and its profitability and cashflow are both very sensitive to the realised
Slide 30: 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: 0.58 moz Mining Underground mining using Gold Resources: 1.4 moz predominantly underhand cut-and-fill (Kencana) and 3 FY18 Prod. Guidance: 230-290koz Au
Slide 31: 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 9.7 0.58 16 0.95 Mineral 3.7 12 1.4 19 2.3 Resources Proposed indicative development of Gosowong mining operations 2,3 Tim
Slide 32: Bonikro – Solid cash flow
Bonikro Bonikro – Solid cash flow Site Process Key Statistics1 2 Gold Reserve Life: ~3 years Element Description Gold Reserves: 0.43 moz Mining Open pit drill, blast, load and Gold Resources: 1.2 moz haul mining at Hiré pits (approximately 15km from 3 FY18 Prod. Guidance: 130-155koz Au Bonikro) FY17
Slide 33: Bonikro – indicative mine plan
Bonikro – indicative mine plan Mineral Resource & Ore Reserves1 Dry Tonnes Grade Insitu Gold • Proposed indicative mine plan based on reserves only (Millions) (g/t) (Moz) Ore Reserves 11 1.2 0.43 • Strategic review in progress, considering range of Mineral 29 1.3 1.2 options including investment in
Slide 34: Unique suite of capabilities in the gold industry
Unique suite of capabilities in the gold industry Lihir, Telfer, Telfer Gosowong Telfer Cadia Bonikro 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 33
Slide 35: 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 14mtpa mill throughput • Lihir beyond 14mtpa mill • Early stage entry pipeline rate target1 throughput rate target1 • Porphyry exploration targets • Cadia 30mtpa mi
Slide 36: 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) Kodal Minerals – Dabakala (FI) Encounter project generation alliance Argentina Cape
Slide 37: 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 36
Slide 38: 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 39: 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 40: 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 41: 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 42: Maintaining our focus on EDGE
Maintaining our focus on EDGE • Edge program FY17 • Improve business performance Capture of potential additional value • Conducted opportunity reviews • Increased focus on Technology and Improving Unlocking Digital to identify opportunities Value operational Strengthening value through our asset dri
Slide 43: 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 44: Data science improves throughput at Lihir
Data science improves throughput at Lihir Inconsistent operation of jaw crusher and conveyor system due to Challenge variation in ore properties and start up sequence, resulting in crusher throughput loss Collaborative approach between site operations and the digital team to draw Approach insight fr
Slide 45: 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 46: 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 47: Delivering on Edge focus on cash generation
Delivering on Edge focus on cash generation Seven consecutive halves of positive free cash flow $800 $700 $m $600 $500 $400 $300 $200 $100 $0 FY14 H2 FY15 H1 FY15 H2 FY16 H1 FY16 H2 FY17 H1 FY17 H2 46
Slide 48: Improved balance sheet strength
Improved balance sheet strength Debt, Cash and Leverage1,2 (times) ($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 - (500) (1,000) (0.5) US Private Placement Notes Corporate Bonds Other Bilateral Bank Debt Cash (as negative)
Slide 49: Good debt structure and clean balance sheet
Good debt structure and clean balance sheet Maturity profile as at 30 June 20171 ($m) 1,200 Corporate Bonds 900 600 300 - FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY42 • FY17 – Fully repaid US Private Placement debt and drawn bank facilities • No goodwill remaining on the balance sheet • Relatively l
Slide 50: Improving financial policy metrics
Improving financial policy metrics Element Target 30 June 2015 30 June 2016 30 June 2017 Leverage ratio Less than 2.0x Financial Metrics 2.1x 1.6x 1.1x (Net Debt / EBITDA) (for trailing 12 months) Gearing Ratio Less than 25% 29% 23% 16.6% Credit rating Aim to maintain investment grade Investment gra
Slide 51: Focused on returns to shareholders
Focused on returns to shareholders Dividend Policy1 Newcrest’s dividend policy continues to balance financial performance and capital commitments with a prudent leverage and gearing level for the Company. Newcrest looks to pay ordinary dividends that are sustainable over time having regard to its fi
Slide 52: Improved profitability
Improved profitability Underlying Profit Movement ($m) Depreciation & Revenue Operating Costs Amortisation $182 million $(17) million $9 million 44 231 9 6 18 (87) (15) (23) (9) 394 (21) (13) 323 (60) (9) Exploration FY16 Copper price FY17 Corporate and other Copper sales volumes Operating costs Dep
Slide 53: Free cash flow reconciliation FY16 to FY17
Free cash flow reconciliation FY16 to FY17 ($m) 226 (36) (29) (46) (12) (88) (90) 814 829 726 739 FY16 FY16 FY16 Increase in Production Sustaining Major Exploration & FY17 before Sale of FY17 investment excluding operating stripping capital projects other investments subsidiary inflows1 investment c
Slide 54: Free cash flow positive at all sites
Free cash flow positive at all sites Free cash flow1,2 by site FY17 All In Sustaining Cost margin FY172,3 $m $/oz ($m) Bonikro, 38 1,022 Hidden Valley, 4 476 506 Telfer, 70 405 158 85 11 4 Gosowong, 142 Production koz 2,381 Cadia, 502 Lihir, 353 940 620 296 386 11 128 1 Free cash flow is before inte
Slide 55: 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/lb Silver Price US$21.00/oz Ore Reserves Estimates Gold Price US$1,200/oz Copper Price US$3.00/lb Silver Price US
Slide 56: Mineral Resources and Ore Reserves – Gold Mineral Resources
Mineral Resources and Ore Reserves 31 December 2016 Gold Mineral Resources1 Comparison to Dec-15 Dec-16 Mineral Resources Measured Resource Indicated Resource Inferred Resource Dec-16 Total Resource Total Resource Competent Person Dry Gold Dry Gold Dry Gold Dry Gold Insitu Gold Dry Gold Insitu Gold
Slide 57: Mineral Resources and Ore Reserves – Copper Mineral Resources
Mineral Resources and Ore Reserves 31 December 2016 Copper Mineral Resources1 Comparison to Dec-15 Dec-16 Mineral Resources Measured Resource Indicated Resource Inferred Resource Dec-16 Total Resource Total Resource Competent Person Dry Copper Dry Copper Dry Copper Dry Copper Insitu Copper Dry Coppe
Slide 58: Mineral Resources and Ore Reserves – Gold Ore Reserves
Mineral Resources and Ore Reserves 31 December 2016 Gold Ore Reserves1 Comparison to Dec-15 Dec-16 Ore Reserves Proved Reserve Probable Reserve Dec-16 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 59: Mineral Resources and Ore Reserves – Copper Ore Reserves
Mineral Resources and Ore Reserves 31 December 2016 Copper Ore Reserves1 Comparison to Dec-15 Total Dec-16 Ore Reserves Proved Reserve Probable Reserve Dec-16 Total Reserve Reserve Competent Person Dry Copper Dry Copper Dry Copper Insitu Copper Dry Copper Insitu Copper Copper Ore Reserves Tonnes Gra
Slide 60: Supply & demand data
Supply & demand data Gold demand & supply (tonnes)1 2015 2016 China and India make up Jewellery 2,388.6 57% 2,041.6 47% >50% of jewellery Technology 332.0 8% 322.5 7% Electronics 262.2 6% 254.5 6% demand Other Industrial 50.9 1% 50.0 1% Dentistry 18.9 0% 18.0 0% Investment 918.7 22% 1,561.1 36% Tota
Slide 61: Supply & demand data (cont)
Supply & demand data (cont) Gold demand by jurisdiction1 Supply by jurisdiction2 Jewellery Country % Greater China 677 33% China 14% India 514 25% Australia 9% Middle East 193 9% Russia 8% Americas 168 8% United States 7% Other Asia 149 7% Peru 5% Europe ex CIS 76 4% Other 265 13% South Africa 5% To
Slide 62: 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 63: Volatility of gold versus other metals
Volatility of gold versus other metals Gold share price 2011 to 2017 (US$/oz)2 High price as % low prices since January 20111 2,000 500% 1,800 450% 400% 1,600 350% 300% 1,400 250% 200% 1,200 150% 1,000 100% 3 year trading range $1,050 - $1,366/oz 50% 800 0% 600 Jan 11 Jan 12 Jan 13 Jan 14 Jan 15 Jan
Slide 64: Operating costs – exchange rate exposure estimates
Operating costs – exchange rate exposure estimates Newcrest is a US dollar reporting entity, its operating costs will vary in accordance with the movements in its operating currencies where those costs are not denominated in US dollars. The table below shows indicative currency exposures in FY17 on
Slide 65: Operating costs – indicative costs by type
Operating costs – indicative costs by type The below represents an indicative exposure on operating costs by a variety of spend types (FY17) 1 (excluding Hidden Valley) Maintenance Energy and Labour 2 Consumables (excl labour) Other3 Total Fuel and Parts Cadia 40% 15% 15% 15% 15% 100% Telfer 30% 15%
Slide 66: Foreign exchange sensitivities and oil hedges
Foreign exchange sensitivities1 and oil hedges Approximate Full Year Site Parameter Movement EBIT Impact (US$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 67: “Underlying Profit” reconciliation
“Underlying Profit” reconciliation 12 months ended 30 June 2017 30 June 2016 US$m US$m Statutory Profit 308 332 Loss on business divestment 10 - Net investment hedge loss1 62 - Write-down of non-current assets1 14 - Gain on disposal of investment - (18) Net costs of class action settlement1 - 9 Tota
Slide 68: AISC and AIC to cost of sales reconciliation
AISC and AIC to cost of sales reconciliation 12 months to 30 June 20172 12 months to 30 June 20162 US$m US$/oz US$m US$/oz Gold sales (koz)1 2,377 2,452 Cost of Sales 2,541 1,069 2,572 1,049 less Depreciation and amortisation (671) (282) (680) (277) less By-product revenue (476) (200) (438) (179) pl
Slide 69: FY17 results
FY17 results Element Cadia Lihir Telfer Goso- Bonikro Hidden Wafi- Corp / Group wong Valley Golpu Other Gold Production (koz) 620 940 386 296 128 11 2,381 Copper Production (kt) 64 20 84 AISC ($m) 151 807 469 208 142 12 81 1,870 Capital Expenditure - Production Stripping1 - 49 27 - 14 - - - 90 - Sus
Slide 70: FY18 guidance
FY18 guidance1 Element Cadia Lihir Telfer Goso- Bonikro Wafi- Corp / Group wong Golpu Other Gold Production (koz) 680-780 880-980 440-500 230-290 130-155 - - 2,400-2,700 Copper Production (kt) ~70 - ~15 - - - - 80-90 AISC ($m) 255-295 800-885 580-620 220-240 125-140 - 90-100 2,100-2,250 Capital Expe
Slide 71: Forging a stronger Newcrest
Forging a stronger Newcrest Our mission Our vision Our Edge To be the Miner of Choice™ Ahigh performance, no-nonsense culture focused on: To deliver superior returns from finding, developing and operating We will lead the way in safe, responsible, Safety gold/copper mines. efficient and profitable m
Slide 72: 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 Docklands, Victoria, 3008 Philip Aiken AM Non-Executive Director Australia Ro