Reduced profit for Newcrest

SHARES in blue chip gold miner Newcrest Mining plummeted more than 10% this morning after it said a slow start at the Telfer copper-gold mine in Western Australia would hurt its profit for the next two years.

Reduced profit for Newcrest Reduced profit for Newcrest Reduced profit for Newcrest Reduced profit for Newcrest Reduced profit for Newcrest

Newcrest forecast its full year after tax profit for the current fiscal year in the range of $130-145 million, somewhat short of analysts forecasts including Deutsche Bank’s $171 million and Citigroup

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