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Newcrest Suspends Cadia Mining, Says Fiscal Year 2023 Production Unaffected

By Stuart Condie

 

SYDNEY--Newcrest Mining Ltd. suspended underground mining at its Cadia operation in Australia's New South Wales state due to an unstable ventilation rise.

The ASX-listed gold miner on Thursday said that it did not anticipate any impact on production for its 2023 fiscal year, which began on July 1. It has significant surface stockpiles available for processing well into September, it said.

Newcrest said all surface activities remained operational but that underground mining would likely recommence after the rise was backfilled over coming weeks.

The company will provide an update on activities when it reports its FY 2022 result on Aug. 19.

 

Write to Stuart Condie at stuart.condie@wsj.com

 

(END) Dow Jones Newswires

August 03, 2022 19:33 ET (23:33 GMT)

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