trending Market Intelligence /marketintelligence/en/news-insights/trending/U00-R1RwJM8Fr0CloA848g2 content esgSubNav
In This List

Newcrest extends electricity contract for Cadia gold mine for 5 years

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Newcrest extends electricity contract for Cadia gold mine for 5 years

Newcrest Mining Ltd. entered into a five-year extension of its electricity contract for the Cadia gold mine in New South Wales, Australia, with EnergyAustralia at an about 20%-lower base price than the previous contract for fiscal 2018.

The contract covers the period from July 1, 2017, to June 30, 2023, according to the company's Dec. 5 statement.

The company said Cadia's operating costs are now expected to increase about A$30/oz to A$35/oz in fiscal 2018 over 2017 prices.

Under the previously contracted prices for fiscal 2018, the operating costs increase was estimated to be A$55/oz to A$60/oz for Cadia.

The Cadia mine's total all-in sustaining costs in fiscal 2018 are now expected near the lower end of its guidance range of A$255 million to A$295 million, Newcrest said.