Newcrest Mining’s half-year profit takes a knock

Seismic activity at the Cadia mine in New South Wales and higher costs as result of a stronger Australian currency have contributed to the large decrease in interim underlying profit that gold miner Newcrest Mining reported on Thursday. For the six months ended December 31, the Australian company, which operates mines in four countries, reported a 48% decrease in statutory profit to $98-million and a 58% decrease in underlying profit to $116-million.