Newcrest Mining Limited - Cadia East Mine reaches major milestone

MELBOURNE, Australia, Oct. 23, 2014 /CNW/ - Newcrest Mining Limited (ASX: NCM) is pleased to announce that the Cadia East mine has reached a major milestone with the safe propagation of Panel Cave 1 through to the surface, significantly ahead of expectations.

The propagation connects the broken rock of the cave to the surface, reducing production risk and increasing draw flexibility. The breakthrough means production becomes less constrained providing more flexible ore extraction.

Newcrest Managing Director & Chief Executive, Sandeep Biswas said, "Newcrest has developed world class expertise in bulk underground mining techniques gained from the establishment of the Ridgway sub level cave and block cave, and the Telfer sub level cave. This experience has led to the successful achievement of this critical milestone of the project ahead of time."

"Cadia East is a world class operation achieving low All-In Sustaining Costs with a long reserve life.  It is a major source of production and cash flow growth for the group," he said.

Cadia East development is now focused on the propagation of Panel Cave 2 and the connection of the two caves.

A copy of the release may be found at www.newcrest.com.au and on www.sedar.com.

SOURCE: Newcrest Mining Limited

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