Newcrest flags $2.5 bn impairment

Gold miner reviews Lihir cost assumptions, lifts FY gold and copper production.

Newcrest Mining (NCM) has warned of an asset impairment of between $1.5 billion to $2.5 billion after tax, mainly due to a review of the operating cost assumptions for its Lihir gold mine. 

The miner said the cost performance of Lihir, in Papua New Guinea, was disappointing compared to an improvement in costs elsewhere in the group.

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