Australia’s Newcrest invests $ 181 million to expand surface mining at Telfer mine

Aug.12 (Reuters) – Newcrest Mining Ltd said Thursday it has committed A $ 246 million ($ 181.4 million) to expand surface mining at its Telfer mine in Western Australia, which will extend operations for at at least two years.

Australia’s largest listed gold miner said it has contracted for work on a reduction, which refers to the removal of material to proceed from pit to pit in an open pit, to the gold, copper and silver mine.

“This reduction is an investment in Telfer’s future that will ensure that operations can continue for at least the next two years,” said CEO Sandeep Biswas.

“With additional drilling, we believe there is potential to extend mine life in the open pit and underground beyond this period. “

Stripping of production for reduction will begin next month, with the first production of ore scheduled to be delivered to the Telfer mine in March 2022, Newcrest said.

The announcement comes weeks after the miner reported a 5.4% drop in production for the June quarter, following an unscheduled shutdown at its Lihir mine in Papua New Guinea. ($ 1 = A $ 1.3561) (Reporting by Tejaswi Marthi in Bangalore; Editing by Rashmi Aich)

Source link

About William J. Harris

Check Also

Diamond Mining Market Size and Forecast

New Jersey, United States – Comprehensive analyzes of the fastest growing companies diamond mining market …