Newcrest shareholders in class action

Gold miner to defend court proceedings over production forecast downgrades.

Newcrest Mining (NCM) says it will "vigorously defend" a class action shareholders launched against Australia's largest gold miner over its massive financial writedown in 2013.

Newcrest Mining downgraded its production forecasts and reduced the value of its assets by more than $6 billion on June 7, 2013, partly due to the significant fall in the gold price.

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