Less Ads, More Data, More Tools Register for FREE

Newcrest Approves AUD146 Million Funding For Havieron Project

Tue, 12th Jan 2021 21:50

(Alliance News) - Newcrest Mining Ltd on Tuesday said the Havieron project in Western Australia, which it owns in joint venture with Greatland Gold PLC, has received regulatory and funding approval.

The Newcrest board has approved AUD146 million, equivalent to around USD112 million, for the construction of the box cut, exploration decline and associated surface infrastructure at Havieron.

The funding approval follows receipt of the regulatory approvals needed to commence these construction activities.

Newcrest Managing Director & Chief Executive Officer Sandeep Biswas said: "We continue our journey towards potentially achieving commercial production from the Havieron Project within three years from the commencement of the box cut and exploration decline. Mineralisation remains open in multiple directions outside of Havieron's initial Inferred Mineral Resource estimate and, with infrastructure in place at our nearby Telfer mine, we are excited about this growth project."

Shares in Newcrest Mining closed down 0.7% at AUD26.13 in Sydney on Tuesday.

By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

Related Shares

More News

EXECUTIVE CHANGES: New CFOs for Sensyne, Focusrite, Bango, 4D Pharma

EXECUTIVE CHANGES: New CFOs for Sensyne, Focusrite, Bango, 4D Pharma

1 Mar 21 16:41

TRADING UPDATES: Victoria Quarter Earnings Rise, Launches Tender Offer

TRADING UPDATES: Victoria Quarter Earnings Rise, Launches Tender Offer

23 Feb 21 18:08

Greatland Gold outlines 2021 work at Juri joint venture

(Sharecast News) - Precious and base metals exploration and development company Greatland Gold announced the initial 2021 work programme for the Juri joint venture on Tuesday, including the drilling of several targets within the Paterson Range East and Black Hills licences.

23 Feb 21 11:04

IN BRIEF: Greatland Submits Licence Application For Paterson Region

IN BRIEF: Greatland Submits Licence Application For Paterson Region

18 Feb 21 14:02

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.