Newcrest agrees lower power tariff for Cadia, eyes renewable supply as long-term solution

Gold miner Newcrest has negotiated a lower electricity tariff for its Cadia operation, in New South Wales, which will assist in bringing down the New South Wales-based mine’s all-in sustaining costs to the lower-end of its $255-million to $295-million guidance range for the 2018 financial year. Newcrest has extended its electricity contract with EnergyAustralia for another five years to June 2023. The new contract provides a base case about 20% lower than the previously contracted price for the 2018 financial year.