Newcrest Mining Limited
(ASX:NCM) says its confident an exploration licence over a parcel of land near its Cadia East project in NSW will be re-confirmed, according to media reports.
The goldminer is fighting legal action by private exploration junior Gold and Copper Resources, which has argued against the renewal of the exploration licence that covers 120 sq km of land near Newcrest's Cadia mine, southwest of Orange.
A Newcrest spokeswoman told media the company is confident that a review of the reasons to support the licence renewal will lead to a reconfirmation of the special circumstances.
The licence in question was originally issued by former resources minister Ian Macdonald, and then renewed in 2011.
It takes in about 70 per cent of Newcrest's exploration area in NSW.
Newcrest generated a net profit of $339 million in the first half of the current financial year.
