AN increase in production at its Cadia mine has helped Newcrest Mining to a profit of more than $498 million for the 2016-17 financial year, according to results released on Monday morning.
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The company's managing director, Sandeep Biswas, said the gold and copper mine at Cadia had been part of “a significant improvement in our safety performance and a number of operational achievements”.
Newcrest said Cadia generated more than 543,000 ounces of gold in the first nine months of the financial year – up 11 per cent on the same period 12 months prior – before the earthquake in mid-April halted production.