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Newcrest Approves $182 Million Telfer Project

Published: Aug. 11, 2021 at 6:48 p.m. ET







By Rhiannon Hoyle
SYDNEY--Newcrest Mining Ltd. Thursday said it would go ahead with a roughly $182 million project to shore up long-term production from its Telfer gold mine in Western Australia.
The miner said it would proceed with the West Dome Stage 5 cutback at Telfer, which is located in the metals-rich Paterson province and is nearby another project, called Havieron, that Newcrest operates in joint venture with Greatland Gold PLC.
"The cutback underpins the continuity of operations at Telfer, with further mine life extension opportunities to be assessed within the open pit and underground," Newcrest said. The cutback alone will ensure the operation can continue for at least the next two years, said CEO Sandeep Biswas.
No extra permits, licenses or regulatory approvals are needed for the project, and Newcrest won't seek further gold-price hedges linked to the project, it said.

https://www.marketwatch.com/story/n...telfer-project-271628722103?mod=mw_quote_news