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Newcrest Mining Ltd.
Summary
| Project: | Cadia Valley Operations | |
|---|---|---|
| Deposit: | Cadia | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 10/15/2019 | |
| Report Code: | JORC | |
| Report Type: | Optimisation Study | |
| Project Stage: | Active Mining & Production | |
| Report details: | 15-10-2019: Newcrest Mining Ltd. announces a Optimisation Study report for its Cadia deposit at the Cadia Valley Operations project. Stage 1 of Cadia Expansion Project approved to proceed. The Newcrest Board has approved to Execution phase the first of tw | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Resources]: Vik Singh (Internal) | |
| ABSTRACT: | The Newcrest Board has approved to Execution phase the first of two stages in the Cadia Expansion Project. The first stage comprises commencement of the next cave development (PC2-3) and an increase in the nameplate capacity of the process plant to 33mtpa. The second stage, which is in Feasibility Study, is focussed on a further increase in processing capacity to 35mtpa and recovery rate improvement projects. The rate of ore mined from Cadia is expected to vary over time according to draw rates, cave maturity and cave interaction as further caves are developed. From FY27 onwards, life of mine (LOM) Cadia mining rates are generally expected to be in the range of 33-35mtpa, with an average of 34mtpa used for financial evaluation purposes. Gold recovery improvements resulting from Stages 1 and 2 are expected to achieve LOM gold recovery rates of around 80% and copper recovery rates of around 85%. Based on latest estimates by the Company and separate to the Cadia Expansion Project capital, the replacement of the Concentrator 1 SAG mill motor is planned to occur in the second half of FY21. | |
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