Newcrest Mining

Newcrest Mining

Newcrest Mining Limited is an Australian-based corporation which engages in the exploration, development, mining and sale of gold and gold-copper concentrate. It is Australia's leading gold mining company and its operations have expanded beyond Australia, for example Indonesia, thus becoming a prominent international mining corporation. Newcrest incorporated in Victoria in 1980.

Newcrest’s primary gold and copper production in Australia is at Ridgeway, Telfer, Cadia and Cracow and in Indonesia at Gosowong. Past and present exploration was done in the Americas, Asia and Europe.

In April 2010, Newcrest announced it was in merger talks with Lihir Gold, a move that would create the world's fifth-largest gold producer, with a combined production of 2,8 million ounces of gold in 2009. In August 2010, the deal was approved by Lihir shareholders (99.86%), and by the end of the month by the national court of Papua New Guinea (PNG), clearing the way for the deal. Under the deal worth US$9.45 billion, Newcrest will give Lihir shareholders 0.12 Newcrest shares, plus A$0.225 per Lihir share.