CA - Newcrest considering major expansion of Red Chris mining project
2023-06-29 11:13:31 ET
Newcrest Mining ( OTCPK:NCMGF ) ( OTCPK:NCMGY ) may have enough gold and copper deposits at its Red Chris mining project in Canada to open an entirely new section and extend production in the area for decades, CEO Sherry Duhe told Bloomberg in an interview on Wednesday.
Newcrest ( OTCPK:NCMGF ) ( OTCPK:NCMGY ), which is set to be acquired by Newmont, plans to decide later this year on whether to add underground block cave mining to its Red Chris open pit operations, Duhe said.
"We might get an entire macro block cave just out of East Ridge that could change the whole sequence of the block cave that we're developing," the CEO said, referring to the neighboring East Ridge area that she said is yielding "exciting" results.
Red Chris and another planned block cave mine, Wafi-Golpu in Papua New Guinea, would take the share of copper in Newcrest's ( OTCPK:NCMGF ) ( OTCPK:NCMGY ) revenue to above 50%, Duhe said.
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Newcrest considering major expansion of Red Chris mining project