Business Description:
Newcrest Mining Limited (NCM) is gold producer with its main operations in Australia, Indonesia, Papua New Guinea and Fiji. Newcrest's asset portfolio includes eight operating mines and several prospective brown and greenfield exploration projects.

Strategy Analysis:
Newcrest's vision is to be the miner of choice for all stakeholders. Company strategy is to deliver competitive shareholder returns by: 1) focusing on gold; 2) building a portfolio of low cost, long life assets through exploration and acquisition; 3) optimising performance at each phase of the gold mining chain – exploration, development, operations; 4) using technical expertise across a range of mining and metallurgical processes. Newcrest focuses on long term value creation emphasising low cash costs, growing reserves and production and utilising capital efficiently. Newcrest Mining reported NPAT up 63% to $908m for the year ended 30 June 2011. Revenues from ordinary activities were $4.10bn, up 46% from last year. Strong production results from the Company's existing operations and the inclusion of the former LGL assets for the ten months from September 2010 to June 2011 have combined to deliver Newcrest a record full year production and financial results. Diluted EPS was 126.2 cents compared to 114.9 cents last year. Net operating cash flow was $1.73bn compared to $1.30bn last year. The final dividend declared was 20 cents, taking the full year dividend to 50 cents compared with 25 cents last year.