Safety and sustainability
o Extensive safety review completed at Brucejack following the tragic fatality in October 2022
o Newcrest Sustainability Fund established with four programs underway to drive strategic social investments
o Scoping and planning of key trials and studies to support the Group Net Zero Emissions Roadmap
continuing as planned
? On track to deliver FY23 guidance following solid H1 operating and financial performance
o Statutory profit7
and Underlying profit8
of $293 million
o All-In Sustaining Cost (AISC)8,9 of $1,089/oz, delivering an AISC margin10 of $585/oz
o Cash flow from operating activities of $429 million
? Advancing global pipeline of gold and copper growth options
o Cadia confirmed its position as a world class, long-life gold and copper producer with the PC1-2 Feasibility
Study approved to execution and completion of the two-stage plant expansion project
o Lihir Phase 14A Feasibility Study approved to full implementation, with upside potential from additional high
grade zones outside the current Ore Reserve to extend the elevated production profile beyond FY31
o Brucejack transformation program delivering value with the debottlenecking concept study progressed to
Pre-Feasibility and exploration success continuing to highlight growth potential
o Telfer mine life extended into early FY25 with the West Dome Stage 8 cutback now underway11
o Red Chris Block Cave Feasibility Study due H1 FY2411 with optimisation programs continuing
? Strong balance sheet supports organic growth and total dividends of US 35 cents per share
o Gold prepay credit facility repaid early with $173 million received from Lundin Gold in January 2023, plus
inaugural Lundin Gold dividend of $15 million paid in September 2022
o Interim dividend of US 15 cps and special dividend of US 20 cps, both fully franked with the special dividend
reflecting the full distribution of the early repayment of the gold prepay credit facility
o Balance sheet remains comfortably within all financial policy targets, with net debt of $1.7 billion, leverage
ratio of 0.8 times8
and a gearing ratio of 13.0%
o Significant liquidity with $2 billion in cash and committed undrawn bank facilities
Newcrest Interim Chief Executive Officer, Sherry Duhe, said “The health and safety of our employees and
contractors, and that of the broader communities in which we operate, lies at the core of our company values. In
October 2022 we tragically lost one of our colleagues while working underground at Brucejack, and following a
comprehensive review of safety on site we are applying our learnings across the business to ensure safety remains
at the forefront of everything we do to prevent fatalities and injuries going forward.
“Newcrest had a solid first half operationally, producing 25% more gold and 32% more copper compared to the same
period last year and delivering a healthy All-In Sustaining Cost margin of $585 per ounce, as we remain focused on
disciplined financial management across our global portfolio. We expect production to improve further in the second
half of FY23 and remain on track to meet our Group guidance for FY23.
Newcrest Mining Limited – Level 8, 600 St Kilda Road, Melbourne, Victoria 3004 – www.newcrest.com 2
“We made significant progress on the execution of our growth strategy during the first half. We were very pleased to
progress the Cadia PC1-2 and Lihir Phase 14A studies to execution, as well as completing the two-stage plant
expansion at Cadia and further extending the mine life at Telfer. Our global gold and copper portfolio is well placed
for the future, with our transformation program delivering excellent progress at Brucejack, activities underway to
maximise the value of our Red Chris and Havieron projects, and ongoing exploration success highlighting the
potential for significant resource growth across our key target areas.
“We have also made progress on our sustainability agenda during the period, partnering with local communities as
we strive to make a positive, sustainable difference through the Newcrest Sustainability Fund and drive key initiatives
to support our Group Net Zero Emissions Roadmap.
“Following a solid first half we are very pleased to announce an interim dividend of 15 cents per share and a special
dividend of 20 cents per share both fully franked, with the special dividend reflecting the full distribution of funds
received from Lundin Gold for the early repayment of the gold prepay credit facility. This demonstrates our confidence
in Newcrest’s ability to fund an attractive growth pipeline while simultaneously providing strong shareholder returns.
“Newcrest is in an excellent position, and with positive momentum for gold and copper prices continuing into 2023,
we look forward to a stronger second half of the year”, said Ms Duhe.
Summary of Operating and Financial Results

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https://www.newcrest.com/sites/default/files/2023-02/230216_Newcrest%202023%20Half%20Year%20Results%20-%20Market%20Release.pdf