CA - Newcrest has taken steps to cut dust pollution at Cadia mine regulator says

2023-06-30 09:25:25 ET

Newcrest Mining's ( OTCPK:NCMGF ) ( OTCPK:NCMGY ) Cadia mine in Australia's New South Wales has adjusted its operations to significantly reduce production of dust , the state's environmental regulator said Friday.

Newcrest's ( OTCPK:NCMGF ) ( OTCPK:NCMGY ) flagship gold mine has been under investigation after testing of residential rainwater tanks showed heavy metal contamination, but the regulator said further testing of kitchen taps by the state's health ministry had found the water met guidelines.

Last week , the regulator said Cadia must take immediate action to address "unacceptable level of dust" in the mine's main vent or risk appropriate action, which could include a suspension of its license.

The Cadia mine was a key attraction for Newmont in its agreement to buy Newcrest ( OTCPK:NCMGF ) ( OTCPK:NCMGY ) in a deal valued at ~$17.5B .

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• Stock price return: Up 23% YTD, up 20% in the past 12 months

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