Newcrest Mining (ASX:NCM) has announced it will begin first production for its Cadia East panel cave next year.
The mine will be the country’s biggest underground operation, and is expected to bring the company gold production at a cash cost of less than $100 an ounce, according to a report in the Australian Financial Review.
The Cadia East ore body is 1,500 metres below the surface at its deepest point.
Meanwhile, the company is preparing to resume production at its gold mine on the Ivory Coast, after a political and security situation halted activity.
Newcrest Mining booked a net profit of $466 million, in the first half of its 2011 financial year.
