The dark truth to Newcrest's reverse alchemy

It is tempting for Newcrest to blames its woes on factors like the falling gold price and high Australian dollar, but the miner has made mistakes.

The $5 billion to $6 billion of write-downs that Newcrest Mining shocked the market with today could be said to flow from a confluence of factors for which it is largely, but not entirely, to blame.


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