Newcrest wants more tier one assets

NEWCREST Mining’s chairman and managing director have told shareholders at the company’s annual general meeting that the company is well-positioned for growth through a number of avenues.

Newcrest wants more tier one assets Newcrest wants more tier one assets Newcrest wants more tier one assets Newcrest wants more tier one assets Newcrest wants more tier one assets

Chairman Peter Hay said the company had been free cashflow positive for seven quarters in a row, allowing it to reduce debt to US$1.5 billion at the end of June, down from the peak of $4 billion at the end of 2013.

It also allowed Newcrest to resume dividends late last year, which Hay said was a reflection of the company’s financial health and outlook.

“With the business turnaround progressing well and the balance sheet strengthened, we are in a position to start pivoting more towards growth,” Hay said.

“I stress that our focus is on profitable growth.”

Hay said the company was making good progress in advancing its growth pipeline, with its exploration team targeting oreb...