Newcrest Mining — H1 FY17 Earnings Presentation
71 slides from Newcrest Mining's earnings presentation, Feb 13, 2017
Slide 1: FY17 Half Year Results Presentation
FY17 Half Year Results Presentation Sandeep Biswas, Managing Director & CEO Gerard Bond, Finance Director & CFO 13 February 2017
Slide 2: Disclaimer – Forward Looking Statements
Disclaimer Forward Looking Statements These materials include forward looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, “outloo
Slide 3: Disclaimer – Competent Person's Statement
Disclaimer Competent Person’s Statement The information in this presentation that relates to Mineral Resources or Ore Reserves has been extracted from the release titled “Annual Mineral Resources and Ore Reserves Statement – 31 December 2016” dated 13 February 2017 (the original release). Newcrest c
Slide 4: Overview
Overview 4 Safety 5 - 11 Operational Review 12 - 18 Financial Performance Insert picture 19 - 33 Looking to the Future 34 Value Proposition 35 Q&A 36 - 70 Appendices 3
Slide 5: Safety update
Safety update H1 FY17 TRIFR (per million man hours) Critical Control Management Verifications1 14 12 10 1,995 8 6 4 96,163 2 0 Group Cadia Telfer Gosowong Bonikro Lihir Field testing underway Process Safety • Baseline review of all sites completed • Finalising updated piping and instrumentation diag
Slide 6: H1 FY17 highlights
H1 FY17 highlights 1 ON TRACK TO MEET 2 STRONG CASHFLOW PRODUCTION GUIDANCE GENERATION 1.23moz Au H1FY17 49kt Cu H1FY17 • Operating cashflow $601m • Investing cashflow $343m • Free cashflow $258m 3 PROGRESSED GROWTH 4 REDUCED DEBT, OPTIONS DIVIDEND ANNOUNCED Leverage ratio 1.3x1 Gearing ratio 20.8%
Slide 7: Newcrest's leading reserve life and cost position
Newcrest’s leading reserve life and cost position Indicative AISC Margin - Interest Exp 500 Note: Width of bubble size represents relative size of gold reserves, indicative AISC margin based on $1,200 gold price Barrick 400 (2015) 300 Goldcorp (2016) Newcrest Newmont (2016) 200 (2015) AngloGold Kinr
Slide 8: Delivering on operational commitments – H1 FY17
Delivering on operational commitments – H1 FY17 1 SAFE ACHIEVEMENT 2 INCREASE LIHIR OF PRODUCTION MILLING THROUGHPUT 1.23moz Achieved target rate of 13mtpa for Dec Qtr ~ TRIFR1 of 3.6 New target of 14mtpa by Dec 20172 3 RAMP UP 4 PORTFOLIO CADIA EAST MINE OPTIMISATION PC1-PC2 cave Hidden V
Slide 9: 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 10: H1 FY17 summary by asset
H1 FY17 summary by asset Lihir Cadia Telfer Production koz 469 431 434 374 382 374 315 318 350 287 275 245 243 219 222 H1 H2 H1 H2 H1 H1 H2 H1 H2 H1 H1 H2 H1 H2 H1 FY15 FY16 FY17 FY15 FY16 FY17 FY15 FY16 FY17 1,239 AISC $/oz 1,085 890 913 955 979 1,026 779 760 824 210 246 295 258 197 H1 H2 H1 H2 H1
Slide 11: H1 FY17 summary by asset
H1 FY17 summary by asset Gosowong Bonikro Production koz 197 134 141 123 72 74 64 67 57 48 H1 H2 H1 H2 H1 H1 H2 H1 H2 H1 FY15 FY16 FY17 FY15 FY16 FY17 1,494 AISC $/oz 1,106 1,078 988 794 867 797 651 737 574 H1 H2 H1 H2 H1 H1 H2 H1 H2 H1 FY15 FY16 FY17 FY15 FY16 FY17 • Increasing production following
Slide 12: Cadia – PC1 and PC2 connection occurred
Cadia – PC1 and PC2 connection occurred • Safely and successfully connected Panel Cave 1 (PC1) to Panel Cave 2 (PC2) • Reduces major hazard risk • Continue to monitor PC2 progression to surface breakthrough EXTRACTION DRIVE 102 EXTRACTION DRIVE 102 11
Slide 13: Financial Performance
Financial Performance Gerard Bond, Finance Director & CFO 12
Slide 14: Delivering on financial commitments – H1 FY17
Delivering on financial commitments – H1 FY17 1 ON TRACK TO 2 LOW COST 3 GENERATE ACHIEVE GUIDANCE POSITION FREE CASH FLOW (FCF) Production AISC $770/oz $258m FCF Costs 6 consecutive halves of positive FCF Capital expenditure All sites FCF positive 4 REDUCE NET DEBT 5 WITHIN TARGET 6 I
Slide 15: Improved profitability
Improved profitability • Statutory profit of $187m & Underlying profit of $273m • Statutory profit and Underlying profit increased 131% and 333% compared to prior period1 • $62m increase due to gold and copper sales volumes • $201m increase due to gold and copper price increases • Income tax expense
Slide 16: Free cash flow reconciliation H1 FY16 to H1 FY17
Free cash flow reconciliation H1 FY16 to H1 FY17 ($m) (27) (27) 234 (35) (53) (88) 254 258 H1 FY16 Increase in Production Sustaining capital Major projects Exploration & Proceeds from H1 FY17 operating stripping other sale of investment cashflow 15
Slide 17: Free cashflow positive at all sites
Free cashflow positive at all sites Free cash flow1 by site H1 FY17 All In Sustaining Cost margin H1 FY172 $m $/oz Telfer, 13 Hidden Valley, 4 ($m) Bonikro, 20 Gosowong, 47 1019 Cadia, 267 507 Lihir, 123 410 364 251 199 25 3 1 Free cash flow is before income tax paid 2 Average realised gold price of
Slide 18: Improving financial policy metrics
Improving financial policy metrics Element Target 30 June 2015 30 June 2016 31 December 2016 Leverage ratio Less than 2.0x Financial Metrics 2.1x 1.6x 1.3x (Net Debt / EBITDA) (for trailing 12 months) Gearing Ratio Less than 25% 29% 23% 21% Credit rating Aim to maintain investment grade Investment g
Slide 19: Long-dated debt maturity profile
Long-dated debt maturity profile Maturity profile as at 31 December 20161 – Gross Drawn Debt $2.125bn ($m) 1,200 US Private Placement Notes Corporate Bonds 900 600 300 - FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY42 1 All Newcrest’s debt is denominated in USD 18
Slide 20: Looking to the Future
Looking to the Future Sandeep Biswas, Managing Director & CEO 19
Slide 21: Growth approach
Growth approach Existing No Technical Progressing >15 year production internal imperative expertise to further profile growth profile for M&A grow opportunities • ~27 years • Lihir – near term • No pressure given • Experienced • Golpu Reserve Life mill throughput reserve life exploration team target
Slide 22: Growth pipeline
1 Growth pipeline Near term Medium term Longer term (0-2yrs) (2-10yr) (10+yr) • Lihir 14mtpa mill throughput • Lihir beyond 14mtpa mill • Early stage entry pipeline rate2 throughput rate2 • Porphyry exploration targets • Cadia 28mtpa mill • Cadia plant expansion throughput rate2 • Application of blo
Slide 23: Cadia mill expansion – progress update
1 Cadia mill expansion – progress update 28mtpa • Increase throughput through debottlecking opportunities In progress Prefeasibility • Select process plant capital configuration Study On track • Targeting completion of PFS in Q3 FY17 Feasibility • Targeting completion of Plant Expansion FS by end FY
Slide 24: Lihir - Increasing mill throughput intensity
Lihir - Increasing mill throughput intensity • First stage of increasing mill throughput is increasing intensity • Experience to date: • Change in operating strategy in December 2014 removed Removing autoclave as a constraint constraints • Able to process all material via flotation circuit when requ
Slide 25: Increasing mill throughput – availability
Increasing mill throughput – availability • Continuing efforts in increasing mill availability to international standards Targets for improved reliability Improvement activities • Mill feed chutes • Change design to reduce wear areas and • Mill liners increase life • Conveyor belts • Update liner de
Slide 26: Recovery focus of Float Tails Leach Stage 2
Recovery focus of Float Tails Leach Stage 2 Start up loss Float Tails Leach minimisation Explanation Fine sulphides and • Start up loss minimisation cyanide soluble gold Closed at Flotation flotation start up, otherwise open When flotation starting up, all Slurry Float tails output goes to POX rathe
Slide 27: Improving autoclave capacity increases recovery
Improving autoclave capacity increases recovery • Increasing autoclave capacity decreases the need to float material, increasing overall recovery • Range of activities focused on improving autoclave capacity, including GEHO pumps GEHO Pump Addition • Material pumped into autoclaves by 2 x GEHO pumps
Slide 28: Wafi-Golpu Potential – An update
Wafi-Golpu Wafi-Golpu Potential – An update 1 Geotechnical Near term drilling completed with 5 holes - data interpretation in progress interpretation Hydrology Refining hydrogeological models to improve interpretation Tailings Evaluating alternate terrestrial storage & deep sea tailings (DSTP) optio
Slide 29: Exploration Potential - Early stage entry arrangements
Exploration Potential - Early stage entry arrangements Existing search space New search space Knowledge build Indonesia PNG Nicaragua • Antam Alliance • Wamum project (100%) Topacio project • Tatau / Big Tabar Island (O & FI) (O & FI) Ecuador Cote d’Ivoire SolGold investment • Séguéla project (O) (E
Slide 30: Séguéla – Emerging gold belt
Séguéla – Emerging gold belt Séguéla • Portfolio of gold targets Porphyry defined • Drilling testing of first target Antenna – intersected high AFRICA Gabbro grade mineralisation CÔTE D’IVOIRE Séguéla 256 km Yamoussoukro Porphyry Prospect Abidjan • Drilling testing of Bonikro Mine the second priorit
Slide 31: Gosowong – Search for new discoveries
Gosowong – Search for new discoveries NGAILAMO: • Large underexplored area of the NORTH Contract of Work • Highly prospective for new discoveries GOLDFIELDS: • Mapping and soil geochemistry • Near-mine sampling has defined a large exploration lithocap focusing on NGAILAMO mineable extension • Drilli
Slide 32: Telfer – New techniques identified new drill targets
Telfer – New techniques identified new drill targets • Seismic survey and development of new structural and mineralisation model has identified new targets that sit outside the current area of drilling • Plans for targets to be drill tested in the next six months West Dome Main Dome Projected DHTEL_
Slide 33: Newcrest's exploration advantages
Newcrest’s exploration advantages 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 32
Slide 34: Autonomous drones reduce risks and costs
Autonomous drones reduce risks and costs Potential areas to be inspected Benefits of drone technology • Conveyor Head Pulley • Reduction in manned duties • Infrastructure defects • Reduction in fuel costs • Heat maps • Reduction in maintenance • Dam Walls • Reduction in vehicle interactions • Dam le
Slide 35: Value proposition
Value proposition 1 HAVE A LOT OF GOLD 2 LOW COST PRODUCER 3 DO WHAT WE SAY ~27 years1 $770 >3 years of maintaining or exceeding reserve life H1 FY17 AISC per ounce Group guidance 4 ORGANIC GROWTH 5 EXPLORATION & 6 FINANCIALLY ROBUST TECHNICAL CAPABILITY Lihir, Cadia Exploration capability 1.3
Slide 36: Q&A
Q&A NEWCREST MINING LIMITED
Slide 37: Appendices
® ‘ue Appendices
Slide 38: Our Strategy
Our Strategy Measure of success Our Vision TM Superior returns from finding, developing and To be the Miner of Choice operating gold/copper mines 1 2 3 Realise full potential of Deliver profitable Explore and acquire our existing assets organic growth where value accretive 4 5 Focus on strong Invest
Slide 39: 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 40: 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 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: Cadia – Cash generation plus growth potential
Cadia – Cash generation plus growth potential Cadia Site Process Key Statistics 1 Gold Reserve Life: ~33 years Element Description Gold Reserves: 25 moz Mining Panel Cave mining from Gold Resources: 43 moz Cadia East (Panel Cave 1 Copper Reserves: 4.4 mt and 2), with underground Copper Resources: 8.
Slide 43: Cadia East - Indicative mine plans
1,2 Cadia East - Indicative mine plans High value Medium value Low value PC10 PC8 PC7 PC9 PC10 PC5 PC3 PC1 PC5 PC2 PC4 PC3 PC2 PC4 PC1 PC11 PC6 Schematic for illustrative purposes only Schematic for illustrative purposes only 28mtpa Baseline 32mtpa Upgrade Average Average Timing Total material Plant
Slide 44: 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 45: Cadia – Mineral Resources and Ore Reserves
1 Cadia – Mineral Resources and Ore Reserves Gold Copper Dry Tonnes Grade Insitu Gold Insitu Grade (%) (Million) (g/t) (Moz) Copper (Mt) Ore Reserves Cadia East Underground 1,500 0.48 23 0.28 4.0 Ridgeway Underground 80 0.54 1.4 0.28 0.23 Other 90 0.52 1.5 0.14 0.13 Total 25 4.4 Mineral Cadia East U
Slide 46: Lihir – Turnaround continues
Lihir Lihir – Turnaround continues Site Process Key Statistics 1 Gold Reserve Life: ~29 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 FY17 Prod. Guidance: 880-980koz Au2 Phase 14 in L
Slide 47: Lihir – Indicative mine plan based on PFS
Lihir – Indicative mine plan based on PFS 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 Indicative mine plan based on PFS2 Timing Total Material Tonnes to Ex-pit Tonnes Stockpile Tonnes Average Feed Stag
Slide 48: Partial oxidation – a refresher
Partial oxidation – a refresher Ore Types Old Operating Strategy (pre Dec 2014) Microcrystalline pyrite1 • Focus on metallurgical recovery • Oxidise 90% of sulphur • Only process ore with certain sulphur characteristics • More reactive and high gold grades • Residence time ~70 minutes • Particle oxi
Slide 49: Ongoing operational improvements at Lihir
Ongoing operational improvements at Lihir Lihir moved from maximising metallurgical gold recovery to maximising economic recovery of gold. • Unlocked autoclave throughput Partial capacity oxidation • Increased flexibility of plant • Mill became bottleneck for maximum gold production Increase Mill Th
Slide 50: Partial oxidation – increased operational flexibility
Partial oxidation – increased operational flexibility • Old operating strategy – Only float material to meet sulphur requirements and minimise recovery losses • Impact – Grinding limited by autoclave throughput • Current operating strategy - Maximise economic gold production • Impact – Grinding runs
Slide 51: Telfer – Seeking to maximise value
Telfer Telfer – Seeking to maximise value Site Process Key Statistics 1 Element Description Gold Reserve Life: ~7 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 52: Telfer – Indicative mine plan
Telfer – Indicative mine plan Mineral Resource & Ore Reserves1 Cutback Timetable – FY17 onwards2,3 Timing Gold Copper Pit Cutback Stage Indicative Cost (years) Dry Tonnes Grade Insitu Gold Dry Tonnes Insitu FY16-18 Main Dome Stage 6/7 $30-40m Grade (%) (Million) (g/t) (Moz) (Million) Copper (Mt) Sta
Slide 53: Gosowong – Operations resumed
Gosowong Gosowong – Operations resumed 1 Site Process Key Statistics Gold Reserve Life: ~3 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 FY17 Prod. Guidance: 220-270koz Au long hole stop
Slide 54: 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 operations2,3 Timi
Slide 55: Bonikro – Solid cashflow
Bonikro Bonikro – Solid cashflow 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 FY17 Prod. Guidance: 120-145koz Au Bonikro) FY16
Slide 56: Bonikro – Indicative mine plan
Bonikro – Indicative mine plan Mineral Resource & Ore Reserves1 Gold Dry Tonnes Grade Insitu Gold (Millions) (g/t) (Moz) Ore Reserves 11 1.2 0.43 Mineral 29 1.3 1.2 Resources Proposed indicative development of Bonikro mining operations2 Timing Total Material Tonnes to Ex-pit Tonnes Stockpile Tonnes
Slide 57: Newcrest's H1 FY17 margins
Newcrest’s H1 FY17 margins Production H1 FY17 Operating Margins koz % 1,230 EBITDA EBIT AISC 43% 43% 40% 38% 35% 374 434 222 67 11 123 31% 26% 23% All In Sustaining Cost margin H1 FY17 $/oz 12% 1019 507 410 364 251 199 25 H1 FY16 H2 FY16 H1 FY17 56
Slide 58: An aligned executive remuneration structure
An aligned executive remuneration structure 1 Short Term Incentive Criteria Long Term Incentive Criteria Comparative cost 40% Replacement position of Reserves 33% Relative Total Shareholder Return (TSR) 33% 20% Diversity ROCE 33% 20% Grow th 1 Personal measures represent those of the CEO. Each of th
Slide 59: 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$3.00/lb Silver Price US
Slide 60: Mineral Resources and Ore Reserves – Gold Mineral Resources
Mineral Resources and Ore Reserves 31 December 2016 Gold Mineral Resources1 Comparison to Dec-15 Dec-16 Mineral Resources Measured Resource Indicated Resource Inferred Resource Dec-16 Total Resource Total Resource Competent Person Dry Gold Dry Gold Dry Gold Dry Gold Insitu Gold Dry Gold Insitu Gold
Slide 61: Mineral Resources and Ore Reserves – Copper Mineral Resources
Mineral Resources and Ore Reserves 31 December 2016 Copper Mineral Resources1 Comparison to Dec-15 Dec-16 Mineral Resources Measured Resource Indicated Resource Inferred Resource Dec-16 Total Resource Total Resource Competent Person Dry Copper Dry Copper Dry Copper Dry Copper Insitu Copper Dry Coppe
Slide 62: Mineral Resources and Ore Reserves – Gold Ore Reserves
Mineral Resources and Ore Reserves 31 December 2016 Gold Ore Reserves1 Comparison to Dec-15 Dec-16 Ore Reserves Proved Reserve Probable Reserve Dec-16 Total Reserve Total Reserve Competent Person Dry Gold Dry Gold Dry Gold Insitu Gold Dry Gold Insitu Gold Gold Ore Reserves Tonnes Grade Tonnes Grade
Slide 63: Mineral Resources and Ore Reserves – Copper Ore Reserves
Mineral Resources and Ore Reserves 31 December 2016 Copper Ore Reserves1 Comparison to Dec-15 Total Dec-16 Ore Reserves Proved Reserve Probable Reserve Dec-16 Total Reserve Reserve Competent Person Dry Copper Dry Copper Dry Copper Insitu Copper Dry Copper Insitu Copper Copper Ore Reserves Tonnes Gra
Slide 64: Underlying Profit reconciliation
“Underlying Profit” reconciliation 6 months ended 31 December 2016 31 December 2015 US$m US$m Statutory Profit 187 81 Loss on business divestment 10 - Net investment hedge loss1 62 - Write-down of non-current assets1 14 - Gain on disposal of investment - (18) Total Significant Items 86 (18) 2 Underl
Slide 65: AISC and AIC to cost of sales reconciliation
AISC and AIC to cost of sales reconciliation 6 months to 31 December 2016 6 months to 31 December 2015 US$m US$/oz US$m US$/oz Gold sales (koz)1 1,215 1,199 Cost of Sales 1,292 1,063 1,316 1,099 less Depreciation and amortisation (313) (258) (347) (290) less By-product revenue (255) (210) (213) (178
Slide 66: Operating costs – exchange rate exposure estimates
Operating costs – exchange rate exposure estimates Newcrest is a US dollar reporting entity, its operating costs will vary in accordance with the movements in its operating currencies where those costs are not denominated in US dollars. The table below shows indicative currency exposures on operatin
Slide 67: Operating costs – indicative costs by type
Operating costs – indicative costs by type The below represents an indicative exposure on operating costs by a variety of spend types (FY16) 1 (excluding Hidden Valley) Maintenance Energy and Labour 2 Consumables (excl labour) Other3 Total Fuel and Parts Cadia 40% 15% 15% 20% 10% 100% Telfer 35% 15%
Slide 68: Foreign exchange sensitivities and oil hedges
Foreign exchange sensitivities1 and oil hedges Approximate Full Year Site Parameter Movement EBIT Impact (US$m) Cadia AUD/USD +0.01 AUD (0.73 → 0.74) (7) Telfer AUD/USD +0.01 AUD (0.73 → 0.74) (2) Lihir USD/PGK -0.1 PGK (3.1 → 3.0) (10) Gosowong USD/IDR -1,000 IDR (14,000 → 13,000) (10) Bonikro USD/
Slide 69: FY17 guidance
FY17 guidance1 Element Cadia Lihir Telfer Goso- Bonikro Hidden Corp / Group wong Valley Other Gold Production (koz) 730-820 880-980 400-450 220-270 120-145 ~10 - 2,350-2,600 Copper Production (kt) ~65 - ~20 - - - - 80-90 AISC ($m) 230-270 765-850 450-480 200-230 130-150 10-15 75-85 1,880-2,060 Capit
Slide 70: 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 71: 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