SURFACE

Newcrest commits to Telfer expansion

Production stripping will begin for the Stage 5 cutback in September

Company expects the first ore production to be delivered to the Telfer mill in March 2022.

Company expects the first ore production to be delivered to the Telfer mill in March 2022.

The board of Newcrest has approved funding for the cutback for the amount of A$246 million (US$182 million). The company stated that this expansion underpins the continuity of operations at the project, and it will assess further opportunities to extend operations within the open-pit and underground.

The cutback is situated between West Dome Stage 2 and West Dome Stage 4. Mining of both areas will continue alongside Stage 5. Newcrest has engaged a contractor to undertake the works.

The company also reported that positive results have been returned from drilling in the area between the Stage 2 and Stage 5 boundary, which could provide additional opportunities to extend the life of the West Dome.

Newcrest will not need any further permits, licences or regulatory approvals for the planned cutback. The company stated that it does not intend to start any further gold price hedging related to the cutback investment.

Newcrest noted that Telfer is strategically well located in the Paterson Province, which is recognised as a world-class gold, copper and polymetallic mining district. Telfer's existing infrastructure and processing capacity also provides benefits to the nearby Havieron project, which is operated by a joint venture comprising Newcrest and Greatland Gold, as well as other exploration projects in the region owned by Newcrest.

Sandeep Biswas, managing director and CEO of Newcrest, said: "This cutback is an investment in Telfer's future which will ensure the operation is able to continue for at least the next two years. With additional drilling, we believe there is the potential for further mine life extensions in the open pit and the underground beyond this time. With the excellent progress we are making at the nearby Havieron project, our objective is to continue utilising the Telfer plant without interruption as we look to introduce Havieron and other new potential feed sources in the future."

In September, production stripping will begin for the Stage 5 cutback. The company expects the first ore production to be delivered to the Telfer mill in March 2022.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Magazine Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Magazine Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production