CA - Newcrest gold mine hit with new environmental probe over dust pollution
2023-05-22 10:49:52 ET
Newcrest Mining's ( OTCPK:NCMGF ) ( OTCPK:NCMGY ) flagship Cadia gold mine in Australia's New South Wales is the subject of a new investigation by the local environmental regulator on concerns about dust pollution.
The state's Environment Protection Authority said Monday it will implement additional measures to mitigate dust emissions and carry out further testing on the Cadia operation to assess health risks to the community, after it found previous actions to manage pollution were not effective.
The regulator has a separate probe into the Cadia mine, also related to air quality concerns, that started late last year and will run parallel to the new investigation into mine dust.
Newcrest ( OTCPK:NCMGF ) ( OTCPK:NCMGY ) was fined A$15K (~US$10K) last August for failing to effectively mitigate dust pollution at Cadia, which is expected to produce at least 560K oz of gold in FY 2023.
The mine was a key attraction for Newmont ( NEM ), which recently agreed to buy Newcrest ( OTCPK:NCMGF ) ( OTCPK:NCMGY ) in a deal valued at ~$17.5B.
More on Newmont/Newcrest Mining:
- Newmont: Higher Realized Gold Prices And Larger Gold Production
- Newmont Acquisition of Newcerst: Another Blow Coming Shareholders' Way
- Newmont Mining: A Gold Mine Of Opportunities Ahead
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Newcrest gold mine hit with new environmental probe over dust pollution