Tag Archives: Newcrest

Olitek ships first Remote Charge-up Unit to Newmont’s Cadia operation

Automation, Explosives and blasting, Mining equipment, Mining safety, Mining services, , , , , , , , , ,

Olitek Mining Robotics says it has reached an important milestone in its Remote Charge-up Unit (RCU) project with the dispatch of a RCU to Newmont’s Cadia operation in New South Wales, Australia.

The RCU uses robust mining robotics and a modified Volvo Construction Equipment wheeled excavator platform to enable full face charge-up from the safety of the cabin, Olitek explains.

Mechanised charge-up of tunnel development faces significantly reduces exposure of charge-up crews to tunnel face hazards such as seismicity, rockfalls, thermal stress and repetitive strain injuries. The development face explosives loading and priming crews are most ‘at risk’ to these geotechnical hazards due to the lengthy exposure duration at the tunnel face to perform their tasks.

The RCU project was part of a Canada Mining Innovation Council (CMIC)-backed consortium involving Vale, Newcrest (now Newmont), Agnico Eagle and Glencore, which sought to deliver a TRL7 (Technology Readiness Level) fully functioning prototype unit that will move personnel at least 4-5 m away from the underground development face and provide faster manual charge-up options to reduce exposure time for existing operations.

The system leverages Olitek’s patented HELX initiation system, allowing full charge-up and tie in to be completed using low-cost conventional detonators, the company says.

Olitek said the dispatch represents a major commercialisation milestone.

Newmont completes acquisition of Newcrest in major gold consolidation move

Mining mergers and acquisitions, Precious metals, , ,

Newmont Corporation has announced the completion of the acquisition of Newcrest Mining Limited to create what it says is the world’s leading gold company with robust copper production.

Featuring more than half of the world’s Tier 1 assets, according to the company, Newmont’s unmatched portfolio of long-life operations, value-accretive projects, abundant exploration opportunities, and world-class talent will underpin years of profitable production in the world’s most favorable jurisdictions, it says. This expanded portfolio will include operations with scale, margin and mine life to generate robust and lasting returns for decades, while supporting best-in-class sustainability performance.

“Today marks a historic milestone in our company and the industry with the successful completion of this transformational acquisition of Newcrest by Newmont,” Tom Palmer, Newmont’s President and Chief Executive Officer, said. “Our attention now turns to safely, efficiently, and responsibly integrating Newcrest’s assets and people into Newmont’s proven operating model, so we can accelerate the delivery of our value-focused strategy for all our stakeholders.”

With the transaction now complete, Newmont’s acquisition of Newcrest is expected to:

  • Strengthen Newmont’s position as the responsible gold mining leader through the combination of high-quality operations, projects and reserves concentrated in low-risk jurisdictions, including 10 Tier 1 operations to support decades of safe, profitable and responsible gold and copper production;
  • Generate annual pre-tax synergies of $500 million, expected to be achieved within the first 24 months, together with at least $2 billion in cash improvements through portfolio optimisation in the first two years after closing;
  • Maintain Newmont’s capital allocation priorities and non-binding dividend payout (since closing the Goldcorp transaction in 2019, Newmont has paid more than $5 billion in dividends, further demonstrating its commitment to our shareholders, it says);
  • Feature a deep bench of experienced leaders, subject matter experts and existing regional teams in Australia and Canada with extensive mining industry experience; and
  • Maintain industry leadership in environmental, social and governance performance.

Newmont moves a step closer to acquisition of Newcrest Mining

Mining mergers and acquisitions, Precious metals, , , ,

Following completion of due diligence, Newmont says it has entered into a binding Scheme Implementation Deed (SID) under which Newmont will acquire 100% of the issued share capital in Newcrest by way of an Australian court-approved Scheme of Arrangement.

This circa-$18 billion deal will result in Newmont – already the largest gold miner by production – inheriting a significant copper production base too.

Tom Palmer, President and CEO of Newmont, said: “The combination of Newmont and Newcrest represents an exceptional value proposition for shareholders and other stakeholders. It creates an industry-leading portfolio with a multi-decade gold and copper production profile in the world’s most favourable mining jurisdictions.

“Following a robust due diligence process, we have identified a number of opportunities to unlock substantial value and will apply our experience and expertise to Newcrest’s complementary and exceptional portfolio of long-life, low-cost gold and copper assets. Leveraging our experience from the acquisition of Goldcorp four years ago, we are positioned to deliver an estimated $500 million in annual synergies and an estimated $2 billion in incremental cash flow from portfolio optimization opportunities, both part of our strategy to maximise value for shareholders and other stakeholders.”

Palmer continued: “This transaction also increases Newmont’s annual copper production – a metal vital for the new energy economy – and adds nearly 50 billion pounds (22.7 Mt) of copper reserves and resources from Newcrest to our robust and balanced portfolio. We intend to quickly realise these opportunities to create superior value for our shareholders, workforce, host communities and governments.”

Newcrest’s Chairman, Peter Tomsett, added: “This transaction combines two of the world’s leading gold producers, bringing forward significant value to Newcrest shareholders through the recognition of our outstanding growth pipeline. In addition to the ongoing benefits of merging these premier portfolios, the combined group will set a new benchmark in gold production while benefitting from a material and growing exposure to copper and a market leading position in safety and sustainability. The Newcrest Board is unanimously recommending the proposal. We are very proud of the entire Newcrest team for building a world class metals business, which will form a key part of the combined group. We believe our shareholders and other stakeholders can look forward to an exciting and prosperous future.”

For the last eight years, Newmont has been recognised as the top gold miner in the Dow Jones Sustainability Index, it says, regularly ranking as the most transparent company for sustainability disclosure in the S&P 500. Beyond Newcrest’s well-established sustainability credentials and top quartile industry ranking, Newmont will apply its proven sustainability practices and leadership to Newcrest’s assets by:

  • Bringing a clear focus on mitigating safety risks along with visible, felt leadership in the field to drive a fatality-free business;
  • Building on Newmont’s sustainability leadership and commitment to meaningful social engagement based on inclusion, transparency and integrity in order to be the partner of choice for governments, host communities, suppliers and workforce;
  • Remaining committed to Newmont’s leading environmental stewardship practices and climate goals; and
  • Creating a diverse, inclusive and equitable workplace where everyone is welcome, attracting and retaining the breadth of skills and innovation needed to continuously improve performance

This acquisition, Newcrest says, would create a world-class portfolio of assets with the highest concentration of Tier 1 operations, primarily in favourable, low-risk mining jurisdictions. Supported by this portfolio, Newmont will be well-positioned to generate strong, stable and lasting returns with best-in-class sustainability performance, well into the future.

Through the combination of high-quality operations, projects and reserves, this portfolio is expected to deliver:

  • Outstanding depth and breadth of global production focused across stable mining jurisdictions:
    • Approximately 8 Moz of total combined annual gold production upon closing the transaction, with more than 5 Moz of gold, or two-thirds of total gold production, from 10 large, long-life, low cost, Tier 1 assets; and
    • Combined annual copper production of approximately 350 MIb from Australia and Canada
  • An extensive portfolio of greenfield and brownfield growth options from the industry’s largest reserve and resource base:
    • 96 Moz of gold reserves declared by Newmont and 52 Moz declared by Newcrest, along with 111 Moz and 68 Moz of gold resources, respectively;
    • Significant majority of combined entity’s gold reserves will be located in the Americas and Australia; and
    • Value-generating projects across some of the world’s most prospective regions including Canada’s Golden Triangle
  • Meaningful increase in copper reserves, a critical metal in facilitating the transition to a new energy economy;
  • Maintaining a disciplined approach to mine planning and project development at reserve gold pricing, creating a resilient business to maximise long-term returns.

The combined business would be immediately supported by Newmont’s scalable, integrated operating model with a deep bench of experienced leaders, subject matter experts and existing regional teams in Australia and Canada, it says. Building on the experience gained following the acquisition of Goldcorp, Newmont has identified the opportunity for substantial synergies:

  • $500 million of total annual pre-tax synergies anticipated to be achieved within the first 24 months following the completion of the transaction:
    • Approximately $100 million of pre-tax general and administrative synergies driven by Newmont’s scalable, integrated operating model with existing regional teams in Australia and Canada;
    • Approximately $200 million of supply chain synergies from best-in-class pricing and existing strong partnerships with key suppliers, smelters and equipment manufacturers through unprecedented economies of scale; and
    • At least $200 million of benefits from Newmont’s proven Full Potential continuous improvement program, which improves costs and productivity through the rapid replication of leading processes and advanced technology.

Further value creation opportunities are anticipated as the Newcrest portfolio is fully integrated into Newmont, bringing together the industry’s best talent and processes across two key mining jurisdictions, including, among other things, the benefits from the experience of Newcrest’s world-class block caving team, it said.

NextOre’s in-pit sorting advances continue with development of mining truck sensor

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NextOre and its magnetic resonance (MR) technology have made another advance in the ore sorting and material classification game with the development of a new “open geometry” sensor that could enable mines to scan mining truck loads.

The company, in the last year, has surpassed previous throughput highs using its on-conveyor belt solutions, accelerated the decision-making process associated with material sorting viability with its mobile bulk sorter and made strides to branch out into the in-pit sorting space via the development of these open geometry sensors.

NextOre’s MR technology is the culmination of decades of research and development by the Commonwealth Scientific and Industrial Research Organisation (CSIRO), with the division spun out from the organisation in 2017. Since then, NextOre has gone on to demonstrate the technology’s viability across the globe.

NextOre’s MR analysers were first fitted on conveyor belts, yet interest in solutions for in-pit equipment predates the company’s inception.

“A significant portion of the time when CSIRO would show people the technology, they were working on for fitting on a conveyor belt, many would ask: ‘could you possibly put it around a truck somehow?’,” Chris Beal, CEO of NextOre, told IM.

After workshopping many ideas and developing increasingly large prototypes – commencing at the start with an antenna made up from a copper loop and a couple of capacitors – two in-pit solutions leveraging CSIRO’s open-geometry sensor have come to the fore.

The first – a 3-m-wide sensor – underwent static and dynamic tests using chalcopyrite copper ore grade samples in a material feeder setup in 2022, in Australia.

This test work, observed by several major mining companies, laid the groundwork for a bigger installation – a 7-m-wide ruggedised antenna that weighs about 5 t. This can be positioned over a haul truck and manoeuvred using a crane supplied by Eilbeck and guidance systems developed for NextOre by CSIRO and the University of Technology Sydney.

The advantage of MR in a truck load scanning scenario, just as with a conveyor, is the ability to make accurate, whole-of-sample grade measurements at high speeds. Yet, to operate effectively, this system requires significant amounts of power.

“The truck system we are building is between 120 kW and 200 kW,” Beal said. “For people in the radio frequency space, power of that magnitude is hard to comprehend; they’re used to dealing with solutions to power mobile phones.”

For reference, a NextOre on-conveyor system rated up to 5,000 t/h has around 30 kW of installed power. And conveyor systems above 5,000 t/h have 60 kW of installed power.

The idea is that this new MR truck sensor station would be positioned at an ex-pit scanning station to the side of the main haul road at a site and trucks will be directed to ore or waste as a result. The test rig constructed in NextOre’s facility has been built to suit the truck class of the initial customer, which is a major copper mine using 180-t-class and 140-t-class haul trucks.

The first prototype has now been built (as can be seen by the photo) and is awaiting of shipment to the mine where a one-year trial is set to commence.

While pursuing this development, NextOre has also been increasing the scale of its conveyor-based installations.

Around nine months ago, IM reported on a 2,800 t/h MR ore sorting installation at First Quantum Minerals’ Kansanshi copper mine in Zambia, which had just shifted from sensing to sorting with the commissioning of diversion hardware.

Now the company has an ore sensing installation up and running in Chile that has a capacity of 6,500 t/h – a little over 50% higher than the highest sensing rate (4,300 t/h) previously demonstrated by the company at Newcrest’s Cadia East mine in New South Wales, Australia.

Beal said the unit has been up and running since December, with the copper-focused client very happy with the results.

For those companies looking to test the waters of ore sorting and sensing, another big development coming out of NextOre in recent years has been the construction of a mobile bulk sorter.

Able to sort 100-400 t/h of material on a 900-mm-width conveyor belt while running at 0.3-1 m/s, these units – one of which has been operated in Australia – is able to compress the timeline normally associated with making a business case for ore sorting.

“As people can now hire such a machine, they are finding it either resolves a gap in proving out the technology or it can be used to solve urgent issues by providing an alternative source of process feed from historical dumps,” Beal said. “They want to bring a unit to site and, after an initial configuration period, get immediate results at what is a significant scale.”

Such testing has already taken place at Aeris Resources’ Tritton copper operations in New South Wales, where the unit took material on the first surface stockpile taken from an underground mine.

While this initial trial did not deliver the rejection rate anticipated by Aeris – due largely to rehandling of the material and, therefore, a reduction in ore heterogeneity ahead of feeding the conveyor – Aeris remains enthusiastic about the technology and Beal is expecting this unit to be redeployed shortly.

“We now know thanks to results from Kansanshi, Carmen Copper Corp/CD Processing, this new Chilean site and Cozamin (owned by Capstone Copper) that this in-situ grade variability can be preserved, and that mixing impacts directly on sorting performance,” Beal said. “Even so, we have seen really good heterogeneity persist in spite of the unavoidable levels of mixing inherent in mining.”

He concluded: “People want this type of equipment not in a year’s time, but next month. Capitalising the business to put more mobile units out in the world is a priority.”

Newcrest, Ericsson and Telstra Purple to trial 4G LTE and 5G tech at Cadia

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Newcrest Mining will trial advanced 4G Long-Term Evolution (LTE) and 5G mobile technologies underground at its Cadia mine, in New South Wales, Australia, to assess the potential of cellular delivery of data and video to support a smarter, safer and more sustainable mine, it says.

In partnership with Ericsson and Telstra Purple, Newcrest will deploy a private 4G LTE and 5G trial network in its underground operations at Cadia in the coming months. This announcement follows previous engagements where the trio worked to improve communications coverage, performance and safety with private 4G LTE at its Lihir mine in Papua New Guinea, and more recently for surface operations at the Cadia Valley Operations (CVO).

Speaking at the Sweden-Australia Sustainable Mining Summit in Sydney, Australia, today, CVO General Manager, Aaron Brannigan, said modern mining is a data-driven business, with technology and digitalisation creating new levels of productivity and safety, greater efficiency and reduced environmental impact.

“In the ongoing quest for productivity, efficiency and safety, Newcrest must use every tool at our disposal to boost performance at site while continuing to ensure that everyone at our mines gets home safely at the end of the day,” he said. “With 4G and 5G mobile technologies potentially offering better performance and capabilities than Wi-Fi, this trial will help Newcrest to assess its viability for greater coverage, capacity and functionality to support advanced underground automation, our Connected Worker strategy and future growth at Cadia.

“It’s an exciting time for Newcrest and for Australian mining, and this is a great practical example of how Australia’s biggest industry can leverage Australia’s position as a global 5G leader to further drive digitalisation in the mining sector and help develop a smart, safer and more sustainable mine.”

The trial will use Ericsson’s Private 5G (EP5G) solution for Industry 4.0 enterprises to assess different cellular approaches for coverage and capacity needs and deployment economics. It will include the use of various 4G and 5G radio types, massive- and multi-user MIMO (multiple-input-multiple-output) advanced antenna systems for high density and high capacity connectivity requirements, and Uplink Booster technology derived from custom-made Ericsson Silicon system-on-a-chip 5G processors to increase uplink signal strength and data throughput, Newcrest explained.

Ericsson’s Head of Australia and New Zealand, Emilio Romeo, said: “5G connectivity will be instrumental in enabling advanced teleremote and autonomous technologies, which are integral to industries such as mining. We’re delighted to be working with Newcrest and Telstra Purple to trial Ericsson’s 4G LTE and 5G solutions, and enable Newcrest to develop know-how on how to best deploy them underground.”

Telstra Purple Digital Transformation Executive, Paul Nicholls, said: “We’ve been thrilled to see what our 4G LTE and 5G mobile network technologies have been able to do through this project, from supporting wireless mining applications underground, to boosting safety for the local team. These technologies are absolutely transformative for a broad range of industries, and it’s exciting to be part of industry 4.0 innovation in Australia.”

Newmont looks to expand gold production leadership with Newcrest bid

Mining mergers and acquisitions, Precious metals, , ,

Newmont has submitted a non-binding proposal to acquire 100% of Newcrest Mining by way of a scheme of arrangement in a proposed transaction that, it says, would combine two of the sector’s top senior gold producers, and set the standard for sustainable and responsible gold mining.

Newmont’s proposal to combine with Newcrest is on the basis of 0.380 Newmont shares per Newcrest share, which would result in the combined company being 30% owned by Newcrest and 70% owned by Newmont. This $16.9 billion offer is at a 21% premium to the share price of Newcrest prior to the announced bid.

It follows the prior receipt of an indicative, non-binding and conditional proposal from Newmont to acquire Newcrest at an exchange ratio of 0.363 Newmont shares for each Newcrest share, Newcrest said.

Newcrest produced 1.9 Moz of gold and 121,000 t of copper in its 2022 financial year, while Newmont’s 2022 full-year guidance was 6 Moz of attributable gold production.

Newmont, already the world’s biggest gold miner by production, said: “This represents a compelling opportunity for the shareholders of both companies to share in the upside of putting together two complementary businesses.”

Tom Palmer, President and CEO of Newmont, said: “We believe a combination of Newmont and Newcrest presents a powerful value proposition to our respective shareholders, workforce and the communities in which we operate. The proposed transaction would join industry-leading portfolios of assets and projects to create long-term value across the combined global business, and we welcome the consideration of Newcrest’s Board of Directors.”

Newmont’s proposal is subject to certain customary conditions, including due diligence to the satisfaction of both parties, entry into a scheme implementation agreement and a recommendation from the Newcrest Board of Directors that Newcrest shareholders vote in favour of the proposal.

Vela’s Datamine keeps track of mineral tenements with LandTrack Systems buy

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Vela Industries Group’s Datamine has acquired Australia-based mining compliance training and software company, LandTrack Systems, in a deal that could see LandTrack’s tenement management solution reach expand.

LandTrack Systems’ asset management system focuses on protecting, managing and tracking mineral title compliance, agreements and environmental activities worldwide.

Vela Industries Group’s Exploration General Manager, John Shippick, said: “We’re really excited to have this fantastic group of products and people under the Datamine umbrella. Any error can be costly, disruptive and stressful and, as LandTrack Systems delivers specialised tenement management software assisting with any aspect of your tenement management, it was almost too fitting to have them join us.

“We look forward to working closely with LandTrack Systems to enable the delivery and support of LandTrack products – taking their reach beyond Australia and around the globe.”

LandTrack Systems General Manager, Rachel Whiteman, said the acquisition is a positive movement for the company and its clients, as opening its game-changing solutions to a wider audience means more can benefit from LandTrack Systems products.

“Already supporting more than 140 Australian mining companies – including BHP Billiton, Rio Tinto, Northern Star, Newcrest and Mineral Resources – this collaboration will enhance our abilities enabling us to show the world the difference we can make to the mining tenure process,” she said.

Orica, Epiroc and Agnico Eagle carry out world-first development charging milestone at Kittilä

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Orica and Epiroc, in partnership with Agnico Eagle Mines Limited, have successfully commenced live blasting with Avatel™ – the world’s first semi-automated wireless underground development charging solution at Agnico Eagle’s Kittilä mine in Finland.

The milestone brings to life an industry-driven concept that dramatically improves safety at the face, which is one of the highest risk activities in underground mining today, Orica and Epiroc say.

Avatel enables a single operator to prepare and wirelessly complete a full charging cycle from the safety of an enclosed cabin while offering the best available blast outcomes through the integration of Orica and Epiroc’s flagship digital, automation and blasting technologies.

The first successful blast was loaded and fired on November 22, 2022, comprising 61 Orica WebGen™ 200 Dev wireless primers and 295 kilograms of Orica’s Subtek™ bulk emulsion loaded to a development face at the Kittilä mine.

Orica Chief Technology Officer, Angus Melbourne, said: “Together with Epiroc and Agnico Eagle we are extremely proud of the team in creating a solution that keeps people out of harm’s way during what is considered one of the highest risk activities for underground miners around the globe.

“With Avatel, we can now effectively manage risk for the people who spend the most time every shift directly exposed to hazards at the development face while delivering all of the blast optimisation benefits that Orica’s flagship technologies bring. The combination of digital, automation and wireless blasting technologies and by partnering with customers and peers, we can continue to solve the industry’s biggest challenges across safety, productivity and sustainability, together.”

Sami Niiranen, President for Epiroc’s Underground division, said: “This is a true milestone achieved for our industry where Epiroc in partnership with Orica have led the way to safer underground operation. By building on our recognised solutions and advanced Rig Control System, Avatel paves the way to safe productivity for the mining industry.”

Jari Näsi, Development Manager – Kittilä Mine, Agnico Eagle, said: “We are proud to create history here at Kittilä where the first mechanised and wireless development blast was initiated. There is always some risk when working close to the face; being able to do this work safely and efficiently from the cabin is promising, and mechanising the process will give a better blasting result.”

The first commercial implementation of Avatel will take place at Newcrest’s Cadia Valley Operations from December 2022.

Ampcontrol strengthens decarbonisation drive by joining the Electric Mine Consortium

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Ampcontrol says it has joined the Australia-based Electric Mine Consortium (EMC) to drive efforts towards electrifying and decarbonising the mining industry.

The EMC is a growing group of highly regarded mining and service companies, driven by the imperative to produce zero-emission products for their customers and meet mounting investor expectations and industry challenges.

Ampcontrol is strengthening its strategic focus on decarbonisation through the innovation and development of electrical solutions, adapting to the changing times.

“Joining the Electric Mine Consortium is a natural progression of our commitment to supporting our customers and industry through the national energy transition,” Rod Henderson, Ampcontrol Managing Director and CEO, said. “Ampcontrol is at the forefront of renewable energy manufacturing. We engineer and supply advanced technology, products, and services to enable a competitive advantage in a net-zero carbon environment.”

EMC Founder and Director Graeme Stanway, said: “The way we generate, store and harness energy around the globe is undergoing a period of major change.

“A global ecosystem has begun to emerge to underpin the innovation and scaling of electrification technologies.”

As well as pioneering products in the renewable energy space, Ampcontrol has been using its engineering expertise to already assist with the transitioning mining industry.

Alongside Tritium, Ampcontrol was a winner in the global ‘Charge On Innovation Challenge’ in May 2022. The joint submission was an end-to-end mining haul truck battery swap solution that is fully automated, relocatable, scalable and cell agnostic. In a drive-in/drive-out recharging station, an autonomous transfer robot swaps batteries in 90 seconds, significantly reducing safety risks and increasing productivity by excluding personnel from the swaps process.

Henderson said: “One of the areas Ampcontrol identified as a need of the industry was assisting businesses with the next steps to get to the future state of electrified mining operations. When businesses think ‘I need energy’ to perform certain functions, the first instinct is often to acquire more energy. Our expertise at Ampcontrol is to help businesses use the materials they already have available, in a different way.”

Ampcontrol says it recognises the importance of partnerships and collaboration in developing technology solutions to enable a competitive advantage in a net-zero carbon environment.

“It is important to demonstrate we work alongside other businesses to contribute to the low carbon economy transition and to the responsible sourcing of prime materials to enable a competitive advantage in a net-zero carbon environment,” Henderson said.

The EMC has launched a call out to companies in the tech, renewable and manufacturing industries that can provide ground-breaking solutions to long haul EV trucks and associated charging infrastructure for mine sites and global supply chains.

Driven by collective demand for electric equipment across the EMC’s operating sites, spread over six continents, the consortium is looking to form synergies between mining and non-mining industries to accelerate decarbonisation solutions across the industry – the mining industry currently contributes 8% of the globe’s emissions.

Ampcontrol joins over 20 miners and suppliers to the sector that includes Newcrest, South32, Barminco and Epiroc to create the EMC with the ambition to accelerate progress towards the fully electrified zero CO2 and zero particulates mine.

Newcrest’s Brucejack mine set for full fleet battery-electric transition in Q4

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Newcrest’s Brucejack gold-silver mine in British Columbia, Canada, is set for a full battery-electric fleet transition by the end of the year, the gold miner said in its financial year 2022 results.

Following a successful site trial, seven underground battery-electric trucks are being commissioned at Brucejack, replacing the existing diesel fleet and abating approximately 65,000 t of CO2 emissions through to 2030.

The new fleet will improve truck productivity, lower unit costs and enhance operational efficiency from planning to production, according to Newcrest. Three of the Sandvik 50-t-payload Z50 battery-electric trucks are already in production, with the full switch over expected to be completed in the December 2022 quarter, it noted.

Sandvik and Pretivm previously noted that seven Z50 haul trucks would be supplied to the operation as part of the planned fleet transition.

The project is being partly funded thanks to a C$7.95 million ($6.1 million) investment from The CleanBC Industry Fund.

Brucejack, which became wholly owned by Newcrest when the acquisition of previous owned Pretivm Resources completed earlier this year, is currently the subject of Newcrest’s EDGE program, which aims to drive a culture of innovation, high performance and continuous improvement. The program has identified additional opportunities of approximately C$15-$25 million/y, with improvements in stope turnaround time and more efficient mine operations as the initial focus areas, the company said.

Run-rate benefits from this effort are expected to be fully realised by the June 2024 quarter, Newcrest says.

Newcrest said in the financial results that it was also assessing ore sorting technology at the mine, which aims to classify and separate mineralised material from non-mineralised material to deliver more consistent mill feed grades and increase operational flexibility.