Higher gold and copper production with increased shareholder returns1
? Operating and financial performance supports 100% increase in total dividends for FY23
o Statutory profit2
and Underlying profit3
of $778 million
o Free cash flow3
of $404 million
o Fully franked final dividend of US 20 cents per share, bringing total FY23 dividends to US 55 cents per share
? Safety and sustainability
o Learnings shared across the business following the tragic fatality at Brucejack and serious injury at Cadia;
Improved annual TRIFR4
of 2.97
o Transition to electric vehicles continues with Brucejack truck loading fleet now fully battery electric and
activities to procure and onboard trials of high technology readiness fleet progressing at Cadia and Brucejack
o First renewable power generated from the Rye Park Wind Farm in July 2023, with early supply commencing
under Cadia’s Power Purchase Agreement
o Newcrest Sustainability Fund driving social investments with contribution to eight major projects and two
emergency response projects approved
? Quality organic gold and copper growth portfolio
o Initial Newcrest Mineral Resources and Ore Reserves estimates for Brucejack separately announced today
drive an increase in Group gold Mineral Resources and Ore Reserves5
o FY23 key milestones included Cadia PC1-2 and Lihir Phase 14A Feasibility Studies approved to execution,
and signing of the Wafi-Golpu Framework Memorandum of Understanding (MOU)
o Established growth pipeline continues to progress, with the Brucejack transformation program realising
multiple value opportunities and Red Chris Feasibility Study on track for completion in H2 CY236
? Binding agreement executed with Newmont to acquire 100% of the issued shares of Newcrest7
o Transaction expected to establish a clear global leader in gold production by combining two of the world’s
largest producers, with a significant and growing exposure to copper
o Newcrest Board unanimously recommends shareholders vote in favour of the transaction in the absence of
a Superior Proposal8
, and subject to the Independent Expert concluding and continuing to conclude that the
transaction is in the best interests of Newcrest shareholders
o Newcrest expects to pay a franked special pre-completion dividend of US$1.10 per Newcrest share9
o Scheme Meeting expected to be held in October 2023 with implementation targeted for November 202310
Newcrest Interim Chief Executive Officer, Sherry Duhe, said “In FY23 we produced 2.1 million ounces of gold and
133 thousand tonnes of copper, with a significantly improved free cash flow of $404 million and Statutory and
Underlying profit of $778 million. Our balance sheet remains in excellent shape, sitting comfortably within all our
financial policy targets as we continued to invest in our organic portfolio of value generating projects.
“On the safety front, our injury rates decreased by 26% compared to last year, however, we were deeply saddened
by the tragic fatality at our Brucejack mine in October and a serious injury at Cadia in June. These incidents are felt
deeply and a stark reminder that safety must remain our first and fundamental priority. Following extensive safety
reviews across our sites, we continue to share our learnings across the business to help prevent fatalities and lifechanging injuries going forward.
Newcrest Mining Limited – Level 8, 600 St Kilda Road, Melbourne, Victoria 3004 – www.newcrest.com 2
“FY23 has been a transformational year for Newcrest. We made significant progress against our growth strategy with
key study milestones achieved at Cadia and Lihir, the signing of the Framework MOU at the world-class Wafi-Golpu
copper-gold deposit, and continued success realised through the Brucejack transformation program. Following our
strong exploration performance we significantly expanded the Exploration Target at East Ridge, highlighting the
exciting opportunity for Red Chris as the Block Cave Feasibility Study continued to pursue a range of optimisation
opportunities. Together with activities underway to maximise the value of Telfer and Havieron, our global gold and
copper portfolio is very well placed for the future.
“In May we reached an agreement for Newmont to acquire 100% of the issued shares in Newcrest. If the transaction
receives the necessary approvals and proceeds, the combined company will set a new benchmark in gold production
with increased diversification across a premier portfolio of gold and copper assets, as well as additional flexibility in
project sequencing and growth optionality. Our Board has unanimously recommended that shareholders vote in
favour of the transaction which is targeted for implementation in November 2023. We are incredibly proud of the
successful business our people have created, and the significant premium offered by Newmont to acquire our
company is testament to their hard work and dedication over many years.
“We have been committed to building an empowered and inclusive culture while progressing our sustainability
credentials and continued to fund a variety of projects through the Newcrest Sustainability Fund to support our local
communities. We are also progressing multiple carbon reduction initiatives as part of our Group Net Zero Emissions
Roadmap, investing in electric vehicles and other new technologies to support our transition to a low-carbon future.
“Finally, we are very pleased to announce a final dividend of 20 cents per share today, which exceeds the minimum
payout targeted by our dividend policy and brings our total dividends for the 2023 financial year to 55 cents per share.
This is equal to the highest total annual dividend Newcrest has ever determined, reflecting our ongoing commitment
to providing strong shareholder returns”, said Ms Duhe.
Summary of Operating and Financial Results

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https://www.newcrest.com/sites/default/files/2023-08/230811_Newcrest%202023%20Full%20Year%20Results%20%E2%80%93%20Market%20Release.pdf