Newcrest releases update on Wafi-Golpu project

Company News

by Anna Napoli

Gold mining company Newcrest Mining (ASX:NCM) has released an update on their Wafi-Golpu exploration project.

The project, located in Papua New Guinea is a joint venture between Newcrest and Harmony Gold.

The company says the project is expected to generate free cash flow averaging about $0.9 billion per anum.

The mine is a tier 1 asset with an internal rate of return (IRR) of 18 per cent. This rate will vary with fluctuations in copper and gold prices.

The company’s Managing Director says the updated feasibility study shows the world-class nature of the project.

Shares in Newcrest Mining (ASX:NCM) closed 0.70% per cent lower to $19.73 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.