The cutback underpins the continuity of operations at Telfer, with further mine life extension opportunities to be assessed within the openpit and underground.
“This cutback is an investment in Telfer’s future which will ensure the operation is able to continue for at least the next two years. With additional drilling, we believe there is the potential for further mine life extensions in the openpit and the underground beyond this time,” said MD and CEO Sandeep Biswas.
“With the excellent progress we are making at the nearby Havieron project, our objective is to continue using the Telfer plant without interruption as we look to introduce Havieron and other new potential feed sources in the future.”
The cutback is located between West Dome Stage 2 and West Dome Stage 4, both of which will continue to be mined in conjunction with Stage 5.
Drilling in the area between the Stage 2 and Stage 5 boundary has also returned positive results to date, providing further opportunities to extend the life of the West Dome.
No additional permits, licences or regulatory approvals would be required for the cutback, and Newcrest said on Thursday that there was no intention to undertake any further gold price hedging in relation to this cutback investment.
Production stripping for the Stage 5 cutback will start in September, with first ore production expected to be delivered to the Telfer mill in March 2022.