Newcrest Announced Robust Results in Full Year FY22

SEATTLE (Scrap Monster): Newcrest Mining Limited announced strong results in full year FY22.

The miner delivered strong operating and financing growth. It reported robust balance sheet and significant liquidity to fund growth. The company’s global organic growth portfolio reported major progress. It completed successful acquisition of the high grade, Tier 1 Brucejack mine in B.C., Canada. Newcrest Mining reiterated its commitment to create a brighter future for people through safe and responsible mining.

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The company reported statutory profit and underlying profit of $872 million. The cash flows from operating activities totalled $1,680 million during the 12-month period ended 30^th June, 2022. The EBITDA dropped from $2,443 million to $2,054 million, whereas the revenue witnessed a fall from $4,576 million to $4,207 million.

The group gold production totalled 1.956 million ounces, while the copper production amounted to 120,650 t in FY22.

Sandeep Biswas, Managing Director and Chief Executive Officer, Newcrest Mining said that the company has delivered a strong performance in FY22 with its operations producing just under two million ounces of gold at an All-In Sustaining Cost (AISC) of $1,043 per ounce. The costs trended lower in the second half of the year. The Cadia mine achieved its lowest ever annual AISC of negative $124 per ounce, he added.