Cadia helps Newcrest to record profits despite earthquake’s impact

ALL LIT UP: The processing plant at Newcrest Mining's Cadia facility.
ALL LIT UP: The processing plant at Newcrest Mining's Cadia facility.

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.

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.