Newcrest Mining Declared Huge Investment in Telfer Gold-Copper Mine

SEATTLE (Scrap Monster): Australian Newcrest Mining announced huge investment towards expansion of its Telfer gold-copper mine in Western Australia. The investment is aimed at ensuring the long term potential of the mine.

According to company press release, it plans to proceed with the West Dome Stage 5 cutback, which in turn will underpin the continuity of operations at the mine. Also, this will lead to assessment of potential opportunities to further extend mine life within the open pit and underground.

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The Newcrest Board has approved A$246 million of funding for the cutback, located between West Dome Stage 2 and West Dome Stage 4. The company has already entered into a contract for the work. The project does not require any extra permit, license or regulatory approval. It expects to start production stripping for the Stage 5 cutback in September, with first ore production to reach the Telfer mill by March next year.

Commenting on the investment, Sandeep Biswas, Managing Director and CEO, Newcrest Mining noted that the investment will ensure that the Telfer operations will continue for at least the next two years. The company’s objective is to utilize the Telfer plant without interruption, with nearby Havieron and other new potential feed sources in the future, he added.