SMM5 20 / PRNewswire-FirstCall-Asianet /-Newcrest Mining Co., Ltd. said it has obtained enough water resources (enough for two years) to carry out production activities at its Cadia copper and gold mine in New South Wales, Australia.
Business activity in the region has been greatly affected by the seven-year drought, and New South Wales was finally able to catch its breath after the baptism of torrential rains in February.
Newcrest, Australia's largest gold miner, said that in addition to rainfall, recently purchased water permits have also helped ease the urgent need for water supply.
In its first-quarter report, the company warned that Cadia production would be reduced in early 2021 if there was not enough rainfall.
Due to the closure of the Cadia mine, the company's gold production fell short of expectations in the first quarter.
The company's main financial and production figures for the second half of 2019 are as follows:
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