newcrest targets 50 gold output growth
Last Updated : GMT 14:28:33
Arab Today, arab today
Arab Today, arab today

Newcrest targets 50% gold output growth

Arab Today, arab today

Arab Today, arab today Newcrest targets 50% gold output growth

Melbourne - Arabstoday

Newcrest Mining, the world’s No.3 gold miner, plans to focus on expanding in Asia, where it will spend A$9 billion ($9.3 billion) to boost its gold output by 50 per cent over the next five years.Newcrest outlined the growth plan as it rewarded shareholders on Monday with a bigger-than-expected dividend and a special dividend after booking a 36 per cent rise in full-year profit, thanks to bumper gold prices and its takeover of Lihir Gold. Chief Executive Greg Robinson said he expected gold prices to remain strong, with the company opting to remain unhedged. “We are bullish on gold prices,” Robinson told reporters, but added that the company’s budget for the year ahead assumed prices below current levels that are near record-highs. While other gold miners favour new mines in Africa and South America, Newcrest wants to hone in on its projects in Papua New Guinea, Fiji and Australia. “We have a predominantly Asian focus in looking at both our production and our growth base,” Robinson told analysts on a conference call. “We are, however, very happy with our small position in West Africa and think that still holds high potential,” he said, adding that the company would hold on to the Ivory Coast asset as long as exploration was successful there in the medium term. Newcrest had to suspend operations at its Bonikro mine in Ivory Coast for nearly two months earlier this year due to political turmoil in the country. As part of its move to focus on large, long-life lodes, Newcrest agreed in June to sell its 70 per cent stake in the Cracow mine in Queensland and its nearby Mt Rawdon mine in return for a one-third stake in the merger of Australia’s Catalpa Resources and Conquest Mining. Robinson said Newcrest expects to fund its growth projects from cash flows, and would consider more special dividends or buybacks if gold prices continue to shine. It has no plans to resume hedging, with gold prices hovering near record highs above $1,800 an ounce. Its five-year plan includes a search for two new gold provinces, which the company could get into by acquiring undeveloped assets where discoveries had been made, but not exiting mines. “We’re not looking to buy mature production,” Robinson said. From / Gulf Today

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

newcrest targets 50 gold output growth newcrest targets 50 gold output growth

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

newcrest targets 50 gold output growth newcrest targets 50 gold output growth

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Fedra happy for “Between Two Worlds” success

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 00:54 2017 Monday ,20 November

Mideast in danger as London explores

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday