Newcrest weathers a writedown tempest

The gold miner's massive writedowns are slightly misleading, given the sector's history, and with chief Greg Robinson's commitment to cut costs it's not surprising Newcrest has rallied.

The sharemarket may not have liked Newcrest Mining’s $6.2 billion of writedowns or near-60 per cent fall in underlying earnings but it did react positively and quite sharply to what Greg Robinson is doing in response to the sea-change in the settings for the gold mining sector.

The writedowns had, of course, been well-flagged as had the steep fall in underlying profitability, which last year was just above $1 billion but which slumped to $451 million in the year just ended.



{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access


Updating information

Please wait ...


{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership


The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles