- (figures are unaudited and in US$ except where stated)
Strong quarterly production, safety and unit cost records, progress on growth

Strong operating performance in the December 2020 quarter(1)
Gold production of 535koz(2) and copper production of 35kt
All-In Sustaining Cost (AISC) of $968/oz(2), delivering an AISC margin of 46% or $836/oz(3)
Cadia records lowest ever quarterly AISC at negative $6/oz
Safety Transformation Plan delivering results
Record low TRIFR outcomes for Red Chris and Telfer
Overall Group TRIFR of 1.6, an equal record low for a quarter
Growth agenda advanced with significant progress made at the Havieron Project
Initial Inferred Mineral Resource estimate of 3.4Moz of gold and 160kt of copper(4)
Early works construction underway in relation to the box cut and exploration decline
Renewable energy transition progressed with Cadia renewable energy Power Purchase Agreement
Expected to help deliver a ~20% reduction in Newcrest's greenhouse gas emissions from 2024
A significant step towards achieving Newcrest's target of a 30% reduction by 2030(5)
New compensation, relocation and benefits sharing agreements signed at Lihir
Environment Permit granted for Wafi-Golpu Project
Melbourne, Australia--(Newsfile Corp. - January 27, 2021) - Newcrest Mining Limited (ASX: NCM) (TSX: NCM) Newcrest Managing Director and Chief Executive Officer, Sandeep Biswas, said, "Our results for the December quarter were underpinned by a strong operational and safety performance together with significant advancements in our growth agenda and sustainability commitments."

"Newcrest's quarterly gold production was 6% higher than the prior period reflecting a stronger performance from Lihir and Telfer combined with a reduction in scheduled maintenance events in the quarter. Our world-class Cadia asset continues to break records, reporting its lowest ever quarterly All-In Sustaining Cost of negative $6/oz, which equates to an All-In Sustaining Cost margin of $1,821/oz on its almost 200,000 ounces in the quarter."

"At Lihir, we are on track to release the outcomes of the mine optimisation study with our Half Year Results in February. The continued improvement of the handling and processing of the argillic ores has contributed to an increase in throughput and recovery, and culminated in a 13% increase in gold production in the quarter. We recently announced the signing of a new compensation, relocation and benefits sharing agreement with the mining lease area landholders, building on the strong relationships we have developed over recent years."

"Red Chris and Telfer also achieved new safety records in the quarter, reporting their lowest ever injury rates. This fantastic achievement demonstrates the success of Newcrest's Safety Transformation Plan and highlights the commitment and dedication of all our people in embedding the safety culture in our workplace."

"In December 2020, we took a major step towards defining the potential of the Havieron Project with the announcement of an initial Inferred Mineral Resource estimate. In January 2021, the Board approved funding to construct the box cut, exploration decline and associated infrastructure, following receipt of the necessary regulatory approvals to commence these activities. With work now well underway at the Project, we see the potential of achieving commercial production from Havieron within the next three years."

"During the period we also entered into a landmark renewable energy power purchasing agreement to secure a significant part of the future energy requirements at Cadia. This agreement is expected to help deliver a ~20% reduction in Newcrest's greenhouse gas emissions, assist in maintaining competitive energy costs and is a significant step in achieving our target of a 30% reduction in emissions intensity by 2030."

"Progress was also made at the Wafi-Golpu Project with the granting of the Environment Permit in December 2020, which is a prerequisite for the grant of a Special Mining Lease under the Mining Act," said Mr Biswas.
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