Newcrest Mining (ASX:NCM) say Cadia water concerns have been alleviated

Company News

by Rachael Jones

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.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.