Newcrest announces breakthrough of tailings

Company News

by Anna Napoli

Australian gold mining company Newcrest Mining (ASX:NCM) has announced that a breakthrough of tailings material has been identified at their Cadia mine.

The breakthrough comes just a few days after two earthquakes hit the area near Orange in New South Wales.

Newcrest says the breakthrough has been contained and they are monitoring any potential environmental damage carefully.

No one was injured and the company believes there is no threat to personal safety.

The tailings material is slurry of finely ground rock, water and low level processing reagents.

The company will provide revised financial guidance once the full impact of the event is known.

Shares in Newcrest (ASX:MGC) closed down 2.04 per cent to $21.59 on Friday

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.