Seismic event hits Newcrest’s Cadia mine production

Seismic event hits Newcrest’s Cadia mine production
Gold mining company Newcrest has confirmed that its biggest mine is not likely to meet its full-year production guidance after it was hit by a “seismic event” in the early hours of Good Friday.

The event on April 14 occurred around the operations of the Cadia mine, 25 kilometres south of the city of Orange in New South Wales.

Newcrest told the market there had been no injuries at the site and all personnel working in the mine were moved to safe areas.

It said an assessment of the damage is now in progress.

However, it foreshadowed this would hurt production.

“Cadia is not expected to meet its production guidance for the 2017 financial year,” Newcrest said.

“It is too early to be definitive about the impact on the group’s production guidance for the 2017 financial year.”

However, Newcrest said it was not expected to have an impact on Candia’s production beyond the 2017 financial year.

 



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