Newcrest Mining on Thursday assessing damage from a rock slip

Australia’s Newcrest Mining on Thursday was assessing damage from a rock slip that was blocking access to part of its Cadia gold and copper mine, one of the largest of its kind inAustralia.

In the meantime, Newcrest was utilising a combination of stockpiled ores and ore from its nearby Ridgeway Deeps deposit to continue production runs, a company spokeswoman said.

In the last quarter, the mine yielded 150,277 ounces of gold and 11,763 tonnes of copper, company data shows.

A ground slippage occurred at the mine late on Wednesday following several days of rain in the Orange region of eastern Australia, according to the company.

The slip occurred midway up the open pit wall of the mine and the fallen rock impeded ramp access to and from the bottom of the pit, it said.

Cadia Hill and Ridgeway ore processing concentrators are located adjacent to each other and share a number of infrastructure facilities and services, enabling the two concentrators to be operated as a single complex.

Newcrest shares were down 1.6 percent to A$33.96 at 2340 GMT against more modest losses in the S&P/ASX 200

Tags: Gold, Gold mining, Gold mining companies, Gold mining industry, Newcrest Mining

Posted by admin on Nov 24 2011. Filed under Gold mining. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry