Newcrest Mining Limited
Newcrest Mining Limited
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Newcrest Mining is crediting its testing and containment protocols for preventing any disruption to date at its Lihir gold mine in Papua New Guinea despite a positive COVID-19 case of an employee who flew to the island location on July 30.
The employee, a PNG national, is asymptomatic but remains in an isolation and treatment facility. The others on the flight were isolated in a designated camp for 14 days, where they undergo testing and released only after three negative results.
Australian explorer Antipa Minerals has done a series of deals worth $A33.2M, led by miner IGO’s $30M farm-in on 1,563sq km of Antipa’s 100%-owned gold-copper tenements in the Paterson Province, Western Australia.
Australia’s Newcrest has hired investment bank RBC Capital Markets to explore options for its 15% stake in Ecuador-focused gold/copper producer SolGold after it contested SolGold’s latest fundraising initiative, Reuters reports.
Australia’s gold output for the Mar 2020 qtr has fallen 12% to 77t on Dec 2019 with many operators taking advantage of higher prices in 2019 and early 2020.
Australia’s Newcrest Mining is planning to raise $A1B ($US655M) to acquire financing for Ecuador’s Fruta del Norte Gold Mine and fund growth projects, increasing its exposure to rising gold prices, Reuters reports.
International miner Newcrest Mining has established a $A20M fund to support host communities at its operations in Australia, Papua New Guinea and Canada in the face of the COVID-19 pandemic.
About half will assist coronavirus preparations and management in PNG, home of its 100%-owned Lihir gold mine on Aniolam Island 900km NW of Port Moresby and 50%-owned Wafi Golpu copper-gold project 65km SE of Lae in Morobe province.
Australian major Newcrest Mining is now targeting a maiden resource in the Dec half-year after confirming it is proceeding to the third stage of its farm-in agreement over Greatland Gold’s Havieron exploration project in WA’s highly prospective Paterson Province.
Newcrest now owns 40% of the project, centred on a deep magnetic anomaly capable of improving the economics and extending the operating life of its Telfer gold mine, 45km to the west.
Revised production guidance for the 12 months ending 30 June 2020 -
Newcrest Mining has cut gold production guidance for the June 2020 year by 10%, recognising the recent divestment of its Gosowong mine in Indonesia and the continued disappointing performance of its Lihir mine in PNG.
Australia’s largest gold producer now expects FY20 production of 2.1-2.2Moz, compared to its prior guidance of 2.3-2.5Moz.
Newcrest Mining has accelerated exploration over the Havieron tenement in Western Australia’s exciting Paterson Province, targeting a maiden resource by end-2020 and commercial production within 2-3 years.
After completing the $US10M first stage of its $65M agreement to earn 70% interest in the tenement from Greatland Gold, Newcrest will drill an additional 20,000-30,000m by end-June while studying the potential to commence an exploration decline this year.