Newcrest Mining (ASX:NCM) is pleased to announce that they believe that gold mining operation Cadia has secured adequate levels of water to ensure that production is not constrained for at least the next two years.
The State of New South Wales has been impacted by a severe drought for the last few years.
Cadia responded by implementing significant water saving efficiency measures and optimisation of onsite bores and other water sources.
Recent rainfall in the region and the purchase of water licences on the water trading market has resulted in improved levels of water being captured in on site storage facilities.
Shares in Newcrest Mining (ASX:NCM) are trading 1.25 per cent lower at $31.60.