Newcrest extends alliance with Encounter Resources

Company News

by Anna Napoli

Newcrest Mining (ASX:NCM) has announced its alliance with Encounter Resources has been extended for a further 12 months.

The companies entered the Project Generation Alliance in July last year to identify new mining opportunities in Western Australia.

Encounter says the initial 12 month period of the project was highly successful and led to the creation of five separate unincorporated joint ventures between the companies.

The projects cover over 4000 square kilometres of the Tanami Gold Province and West Arunta.

Encounter Resources says the company hopes to build on the five joint ventures already established with the potential to host major and giant gold deposits.

Shares in Newcrest Mining (ASX:NCM) closed 0.25 per cent higher at $20.09 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.