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Newcrest FY08 mineral resources and ore reserves
10:54, Tuesday, 19 August 2008

Sydney - Tuesday - August 19: (RWE Aust Business News) - Newcrest
Mining (ASX:NCM) has updated resources and reserve estimates for the year
ended 30th June 2008, with these increasing substantially net of mining
depletion.
Mineral resources are estimated at 70.6 million ounces of gold
and 9.18 million tonnes of copper.
This represents a year on year increase for gold of 28pc or 15.4
million ounces and increase for copper of 62pc or 3.53 million tonnes.
Ore reserves are estimated at 40.0 million ounces of
gold and 4.15 million tonnes of copper. This represents a year on year
increase for gold of 20pc or 6.8 million ounces and increase for copper
of 54pc or 1.45 million tonnes.
Growth in resources was driven by significant increases at Cadia
Valley (8.4m ozs of gold and 2.37mt of copper) and the acquisition of
50pc equity in the Harmony PNG assets (7.3m ozs of gold and 880,000t of
copper).
Growth in reserves was again driven by increases at Cadia Valley
(4.9m ozs of gold and 1.04mt of copper) and the acquisition of (50pc)
equity in the Harmony PNG assets (2.1m ozs of gold and 400,000t of
copper).
The Cadia East resource has increased by 6.6m ozs of gold and
1.88mt of copper. The Cadia East reserve has increased by 5m ozs of gold
and 1mt of copper.
Big Cadia, located northeast of the Ridgeway mine, has an initial
resource estimated to contain 440,000 ozs of gold and 170,000t of copper
mineable by open pit.