Data source: S&P Global Market Intelligence
3rd April 2018
Newcrest Mining Ltd. said April 2 that as a precautionary measure it has completed the construction of the first 15-meter lift of a 30-meter-high temporary containment bund near the northern tailings facility embankment slump at the Cadia gold-copper mine in New South Wales, Australia.
According to the company, further work on completing the containment bund will be completed in the next two weeks. An evaluation on the cause of the embankment slump is ongoing, with the New South Wales resources regulator’s notice prohibiting the depositing tailings at the northern tailings facility still in place.
The company resumed processing operations March 30, with processing currently at a run rate of 8 million tonnes per annum as a result of limitations in infrastructure to the southern tailings facility.
The company said it remains “too early” to update its guidance, but CEO Sandeep Biswas said in mid-March it was set to miss its fiscal 2018 guidance due to the mine’s temporary closure.