Newcrest December 2013 Resources and Reserves Statement

ASX: NCM  
POMSOX: NCM  
TSX: NM

(all figures in United States dollars and in 100% terms unless stated otherwise)

MELBOURNE, Australia, Feb. 14, 2014 /CNW/ - Newcrest Mining Limited (Newcrest) has updated its Mineral Resource and Ore Reserve estimates for the 12 month period ending 31 December 2013, and these are presented in Tables 1 to 4 below.

The reserves estimates reported in this release have been prepared under the direction of a Qualified Person, as defined in NI 43-101, using accepted industry practice and have been classified in accordance with the JORC Code1. Except as described below, there are no material differences between the definitions of Proven and Probable Mineral Reserves under the applicable definitions adopted by the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM Definition Standards") and the corresponding equivalent definitions in the JORC Code for Proved and Probable Ore Reserves.

It is noted that under the CIM Definition Standards, the completion of a pre-feasibility study is the minimum prerequisite for the conversion of Mineral Resources to Mineral Reserves. The CIM Definition Standards define a pre-feasibility study as "a comprehensive study of a range of options for the technical and economic viability of a mineral project that has advanced to a stage where a preferred mining method, in the case of underground mining, or the pit configuration, in the case of an open pit, has been established and an effective method of mineral processing is determined. It includes a financial analysis based on reasonable assumptions on mining, processing, metallurgical, economic, marketing, legal, environmental, social and governmental considerations and the evaluation of any other relevant factors which are sufficient for a Qualified Person, acting reasonably, to determine if all or part of the Mineral Resource may be classified as a Mineral Reserve".

The JORC Code 2012, which came into effect on 1 December 2013, prescribes completion of a pre-feasibility study as a minimum prerequisite to declare an Ore Reserve (the JORC equivalent of a Mineral Reserve); however this requirement of the JORC Code does not come into effect until 1 December 2014.

A pre-feasibility study within the meaning of the CIM Definition Standards has not yet been completed in respect of Newcrest's Ridgeway Deeps Lift 2, Telfer Underground (VSC), O'Callaghans and Hiré deposits. Accordingly, the tables below present Newcrest's total Ore Reserves, as classified in accordance with the JORC Code, and include a reconciliation to identify:

(a) the Ore Reserves that could be classified as Mineral Reserves under applicable CIM Definition Standards; and

(b) the Ore Reserves which would not be classified as Mineral Reserves under applicable CIM Definition Standards, as required by NI 43-101. It is planned to complete the required studies to support Mineral Reserves estimation for those deposits during 2014.

The Mineral Resources estimates have been prepared under the direction of a Qualified Person, as defined in NI 43-101, using accepted industry practice and have been classified and reported in accordance with the JORC Code. There are no material differences between the definitions of Measured, Indicated and Inferred Mineral Resources under the CIM Definition Standards and the equivalent definitions in the JORC Code.

_______________________________
1 Newcrest reports its resource and reserve estimates in compliance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code).

Mineral Resources are quoted inclusive of Ore Reserves.

Long term metal price and foreign exchange assumptions for Mineral Resources and Ore Reserves are set out in the table below.  They are unchanged for both Newcrest and the Morobe Mining Joint Ventures (MMJV) managed sites from those adopted for the 31 December 2012 estimates, other than for Gosowong for which Newcrest has now adopted the same assumptions. Where appropriate, Mineral Resources are also spatially constrained within notional mining volumes based on metal prices of US$1,400/oz for gold and US$4.00/lb for copper. This is a conservative approach adopted to eliminate non-contiguous mineralisation from resource estimates.

Long Term Metal Price Assumptions Newcrest
Managed
MMJV
Managed
Mineral Resource Estimates    
Gold - USD/oz      1,350.00 1,400.00
Copper - USD/lb 3.10 3.50
Silver - USD/oz 23.00 25.00
Ore Reserve Estimates    
Gold - USD/oz 1,250.00 1,250.00
Copper - USD/lb 2.70 3.10
Silver - USD/oz 20.00 21.00
Long Term Exchange Rate USD: AUD 0.80 0.90

As is typical with epithermal deposits, the deposits at Gosowong and Hidden Valley contain amounts of silver. The Cadia East porphyry deposit contains some molybdenum in addition to the gold, copper and silver reported.

In this section, the term "Cadia Province" refers to Cadia Hill, Ridgeway, Ridgeway Deeps, Big Cadia, Cadia Extended and Cadia East. The term "Telfer Province" refers to the Main Dome open pit, the West Dome open pit, Telfer Underground, Telfer Satellite Deposits and O'Callaghans.

Colin Moorhead (BSc (Hons), FAusIMM), a Competent Person (as defined in the JORC Code) and a Qualified Person (as defined in NI 43-101), has approved the data set out below, including sampling, analytical and test data underlying the results. For a description of the quality assurance program and quality control measures applied, please refer to the applicable technical report filed at www.sedar.com. Newcrest has also lodged Explanatory Notes for the Annual Mineral Resources & Ore Reserves Statement - 31 December 2013 on its website at www.newcrest.com.au. These notes provide additional information in support of the 2013 Resources and Reserves Statement.

The Morobe Mining Joint Ventures' Mineral Resources and Ore Reserves are quoted at Newcrest's 50% interest.

Table 1: Ore Reserves Reported in accordance with the JORC Code

Table 1 presents Ore Reserves that have been classified and reported in accordance with the JORC Code and include some material that does not satisfy the prerequisite for completion of a pre-feasibility study for classification as Mineral Reserves under the CIM Definition Standards.

             
Dec-13 Ore Reserves - JORC Gold and Copper Reserves
(# = material change at a
material mining project)
Dry
Tonnes
(million)
Gold
Grade
(g/t Au)
Copper
Grade
(% Cu)
Insitu Gold
(million
ounces)
Insitu
Copper
(million
tonnes)
Cadia East Underground Proven - - - - -
  Probable 1,600 0.49 0.29 25 4.7
  Total 1,600 0.49 0.29 25 4.7
Ridgeway Underground Proven - - - - -
  Probable 100 0.58 0.29 1.9 0.30
  Total 100 0.58 0.29 1.9 0.30
Other Proven 87 0.51 0.14 1.4 0.12
  Probable 2.8 0.40 0.14 0.036 0.0040
  Total 90 0.50 0.14 1.5 0.13
Combined Cadia Province - Gold and Copper Proven 87 0.51 0.14 1.4 0.12
  Probable 1,700 0.49 0.29 27 5.0
  Total 1,800 0.49 0.28 28 5.1
Main Dome Open Pit # Proven 24 0.40 0.086 0.32 0.021
  Probable 74 0.95 0.10 2.3 0.075
  Total 98 0.81 0.10 2.6 0.10
West Dome Open Pit # Proven - - - - -
  Probable 73 0.68 0.061 1.6 0.045
  Total 73 0.68 0.061 1.6 0.045
Telfer Underground Proven - - - - -
  Probable 62 1.1 0.24 2.2 0.15
  Total 62 1.1 0.24 2.2 0.15
O'Callaghans Proven - - - - -
  Probable 59 - 0.29 - 0.17
  Total 59 - 0.29 - 0.17
Combined Telfer Province - Gold and Copper Proven 24 0.40 0.086 0.32 0.021
  Probable 270 0.70 0.16 6.0 0.44
  Total 290 0.68 0.16 6.3 0.46
Lihir # Proven 100 2.2 - 7.2 -
  Probable 290 2.3 - 22 -
  Total 390 2.3 - 29 -
Gosowong * Proven - - - - -
  Probable 3.2 12 - 1.2 -
  Total 3.2 12 - 1.2 -
Bonikro * Proven 5.7 0.73 - 0.13 -
  Probable 27 1.6 - 1.4 -
  Total 33 1.4 - 1.5 -
Namosi JV (69.94%) Proven - - - - -
  Probable 940 0.12 0.37 3.6 3.5
  Total 940 0.12 0.37 3.6 3.5
MMJV - Hidden Valley Operations (50%) Proven 0.87 1.2 - 0.033 -
  Probable 30 1.7 - 1.7 -
  Total 31 1.7 - 1.7 -
MMJV - Wafi / Golpu / Nambonga (50%) Proven - - - - -
  Probable 230 0.86 1.2 6.2 2.7
  Total 230 0.86 1.2 6.2 2.7
Combined Other Provinces - Gold and Copper Proven 110 2.1 - 7.3 -
  Probable 1,500 0.74 0.41 36 6.2
  Total 1,600 0.83 0.38 43 6.2
Newcrest - Gold and Copper Proven 220 1.3 0.067 9.1 0.15
  Probable 3,500 0.61 0.33 69 12
  Total 3,700 0.65 0.32 78 12

Note: Data is reported to two significant figures to reflect appropriate precision in the estimate and this may cause some apparent discrepancies in totals.
   
The figures shown represent 100% of the Ore Reserve. Gosowong (inclusive of Toguraci and Kencana) is owned and operated by PT Nusa Halmahera Minerals, an incorporated joint venture company (Newcrest, 75%).  Bonikro is inclusive of mining and exploration interests in Côte d'Ivoire held by LGL Mines CI SA (Newcrest, 89.9%), LGL Exploration CI SA (Newcrest, 100%) and LGL Resources CI SA (Newcrest, 99.89%).
   
  Figures Shown for MMJV relate to projects owned by the Morobe Mining unincorporated joint ventures between subsidiaries of Newcrest and Harmony Gold Mining Company Limited (Newcrest, 50%).  Newcrest has a 69.94% share of the Namosi unincorporated joint venture.

         
Dec-13 Ore Reserves - JORC Silver Reserves
(# = material change at a
material mining project)
Dry
Tonnes
(million)
Silver
Grade
(g/t Ag)
Insitu Silver
(million
ounces)
Cadia Valley Operations Proven - - -
  Probable 1,700 0.65 36
  Total 1,700 0.65 36
Gosowong * Proven - - -
  Probable 3.2 17 1.7
  Total 3.2 17 1.7
MMJV - Hidden Valley / Hamata / Kaveroi (50%) Proven 0.87 23 0.64
  Probable 30 30 29
  Total 31 29 30
MMJV - Wafi / Golpu / Nambonga (50%) Proven - - -
  Probable 230 1.4 9.9
  Total 230 1.4 9.9
Newcrest - Silver Proven 0.87 23 0.64
  Probable 2,000 1.2 76
  Total 2,000 1.2 77

 

       
Dec-13 Ore Reserves - JORC Tonnes Grade Contained Metal
Polymetallic  Reserves
(# = material change at a material mining project)
Dry
Tonnes
(million)
Tungsten
Trioxide
Grade
(% WO3)
Zinc
Grade
(% Zn)
Lead
Grade
(% Pb)
Insitu
Tungsten
Trioxide
(million
tonnes)
Insitu Zinc
(million
tonnes)
Insitu Lead
(million
tonnes)
Proved - - - - - - -
Probable 59 0.34 0.62 0.30 0.20 0.36 0.18
Total Polymetallic 59 0.34 0.62 0.30 0.20 0.36 0.18

 

Note: Data is reported to two significant figures to reflect appropriate precision in the estimate and this may cause some apparent discrepancies in totals.
   
The figures shown represent 100% of the Ore Reserve. Gosowong (inclusive of Toguraci and Kencana) is owned and operated by PT Nusa Halmahera Minerals, an incorporated joint venture company (Newcrest, 75%).  Bonikro is inclusive of mining and exploration interests in Côte d'Ivoire held by LGL Mines CI SA (Newcrest, 89.9%), LGL Exploration CI SA (Newcrest, 100%) and LGL Resources CI SA (Newcrest, 99.89%).
   
  Figures Shown for MMJV relate to projects owned by the Morobe Mining unincorporated joint ventures between subsidiaries of Newcrest and Harmony Gold Mining Company Limited (Newcrest, 50%).  Newcrest has a 69.94% share of the Namosi unincorporated joint venture.

Table 2: Mineral Reserves Reported in accordance with the CIM Definition Standards

Table 2 presents Mineral Reserves in accordance with the CIM Definition Standards. The Mineral Reserves presented in Table 2 are a subset of the Ore Reserves presented in Table 1 and include only those Ore Reserves that could be classified as Mineral Reserves within the meaning of the CIM Definition Standards.

             
Dec-13 Mineral Reserves Gold and Copper Reserves
(# = material change at a
material mining project)
Dry
Tonnes
(million)
Gold
Grade
(g/t Au)
Copper
Grade
(% Cu)
Insitu Gold
(million
ounces)
Insitu
Copper
(million
tonnes)
Cadia East Underground Proven - - - - -
  Probable 1,600 0.49 0.29 25 4.7
  Total 1,600 0.49 0.29 25 4.7
Ridgeway Underground Proven - - - - -
  Probable 33 0.59 0.29 0.62 0.10
  Total 33 0.59 0.29 0.62 0.10
Other Proven 87 0.51 0.14 1.4 0.12
  Probable 2.8 0.40 0.14 0.036 0.0040
  Total 90 0.50 0.14 1.5 0.13
Combined Cadia Province - Gold and Copper Proven 87 0.51 0.14 1.4 0.12
  Probable 1,600 0.49 0.29 26 4.8
  Total 1,700 0.49 0.28 27 4.9
Main Dome Open Pit # Proven 24 0.40 0.086 0.32 0.021
  Probable 74 0.95 0.10 2.3 0.075
  Total 98 0.81 0.10 2.6 0.10
West Dome Open Pit # Proven - - - - -
  Probable 73 0.68 0.061 1.6 0.045
  Total 73 0.68 0.061 1.6 0.045
Telfer Underground Proven - - - - -
  Probable 37 1.2 0.21 1.5 0.076
  Total 37 1.2 0.21 1.5 0.076
Combined Telfer Province - Gold and Copper Proven 24 0.40 0.086 0.32 0.021
  Probable 180 0.90 0.11 5.3 0.20
  Total 210 0.84 0.10 5.6 0.22
Lihir # Proven 100 2.2 - 7.2 -
  Probable 290 2.3 - 22 -
  Total 390 2.3 - 29 -
Gosowong * Proven - - - - -
  Probable 3.2 12 - 1.2 -
  Total 3.2 12 - 1.2 -
Bonikro * Proven 5.7 0.73 - 0.13 -
  Probable 25 1.4 - 1.1 -
  Total 30 1.2 - 1.2 -
Namosi JV (69.94%) Proven - - - - -
  Probable 940 0.12 0.37 3.6 3.5
  Total 940 0.12 0.37 3.6 3.5
MMJV - Hidden Valley Operations (50%) Proven 0.87 1.2 - 0.033 -
  Probable 30 1.7 - 1.7 -
  Total 31 1.7 - 1.7 -
MMJV - Wafi / Golpu / Nambonga (50%) Proven - - - - -
  Probable 230 0.86 1.2 6.2 2.7
  Total 230 0.86 1.2 6.2 2.7
Combined Other Provinces - Gold and Copper Proven 110 2.1 - 7.3 -
  Probable 1,500 0.73 0.41 36 6.2
  Total 1,600 0.82 0.38 43 6.2
Newcrest - Gold and Copper Proven 220 1.3 0.067 9.1 0.15
  Probable 3,300 0.62 0.33 67 11
  Total 3,600 0.66 0.32 76 11

 

Note: Data is reported to two significant figures to reflect appropriate precision in the estimate and this may cause some apparent discrepancies in totals.
   
The figures shown represent 100% of the Ore Reserve. Gosowong (inclusive of Toguraci and Kencana) is owned and operated by PT Nusa Halmahera Minerals, an incorporated joint venture company (Newcrest, 75%).  Bonikro is inclusive of mining and exploration interests in Côte d'Ivoire held by LGL Mines CI SA (Newcrest, 89.9%), LGL Exploration CI SA (Newcrest, 100%) and LGL Resources CI SA (Newcrest, 99.89%).
   
  Figures Shown for MMJV relate to projects owned by the Morobe Mining unincorporated joint ventures between subsidiaries of Newcrest and Harmony Gold Mining Company Limited (Newcrest, 50%).  Newcrest has a 69.94% share of the Namosi unincorporated joint venture.

         
Dec-13 Mineral Reserves Silver Reserves
(# = material change at a
material mining project)
Dry
Tonnes
(million)
Silver
Grade
(g/t Ag)
Insitu Silver
(million
ounces)
Cadia Valley Operations Proven - - -
  Probable 1,600 0.65 34
  Total 1,600 0.65 34
Gosowong * Proven - - -
  Probable 3.2 17 1.7
  Total 3.2 17 1.7
MMJV - Hidden Valley / Hamata / Kaveroi (50%) Proven 0.87 23 0.64
  Probable 30 30 29
  Total 31 29 30
MMJV - Wafi / Golpu / Nambonga (50%) Proven - - -
  Probable 230 1.4 9.9
  Total 230 1.4 9.9
Newcrest Silver Proven 0.87 23 0.64
  Probable 1,900 1.2 75
  Total 1,900 1.2 75

 

Note: Data is reported to two significant figures to reflect appropriate precision in the estimate and this may cause some apparent discrepancies in totals.
   
The figures shown represent 100% of the Ore Reserve. Gosowong (inclusive of Toguraci and Kencana) is owned and operated by PT Nusa Halmahera Minerals, an incorporated joint venture company (Newcrest, 75%).  Bonikro is inclusive of mining and exploration interests in Côte d'Ivoire held by LGL Mines CI SA (Newcrest, 89.9%), LGL Exploration CI SA (Newcrest, 100%) and LGL Resources CI SA (Newcrest, 99.89%).
   
  Figures Shown for MMJV relate to projects owned by the Morobe Mining unincorporated joint ventures between subsidiaries of Newcrest and Harmony Gold Mining Company Limited (Newcrest, 50%).  Newcrest has a 69.94% share of the Namosi unincorporated joint venture.

Table 3: JORC Code Ore Reserves Excluded from Mineral Reserves in accordance with the CIM Definition Standards

Table 3 presents the Ore Reserves that were excluded from Table 2 because such Ore Reserves do not satisfy all prerequisites for classification as Mineral Reserves within the meaning of the CIM Definition Standards. The Mineral Reserves presented in Table 3 are a subset of the Ore Reserves presented in Table 1.

             
Dec-13 Mineral Reserve
Reconciliation
Gold and Copper Reserves
(# = material change at a
material mining project)
Dry
Tonnes
(million)
Gold
Grade
(g/t Au)
Copper
Grade
(% Cu)
Insitu Gold
(million
ounces)
Insitu
Copper
(million
tonnes)
Ridgeway Underground - L2 Proven - - - - -
  Probable 69 0.58 0.29 1.3 0.20
  Total 69 0.58 0.29 1.3 0.20
Combined Cadia Province - Gold and Copper Proven - - - - -
  Probable 69 0.58 0.29 1.3 0.20
  Total 69 0.58 0.29 1.3 0.20
Telfer Underground - VSC Proven - - - - -
  Probable 25 0.88 0.30 0.71 0.075
  Total 25 0.88 0.30 0.71 0.075
O'Callaghans Proven - - - - -
  Probable 59 - 0.29 - 0.17
  Total 59 - 0.29 - 0.17
Combined Telfer Province - Gold and Copper Proven - - - - -
  Probable 84 0.26 0.29 0.71 0.24
  Total 84 0.26 0.29 0.71 0.24
Bonikro - Hire * Proven - - - - -
  Probable 2.9 3.20 - 0.30 -
  Total 2.9 3.20 - 0.30 -
Combined Other Provinces - Gold and Copper Proven - - - - -
  Probable 2.9 3.20 - 0.30 -
  Total 2.9 3.20 - 0.30 -
Newcrest - Gold and Copper - Excluded Material Proven - - - - -
  Probable 160 0.46 0.29 2.3 0.44
  Total 160 0.46 0.29 2.3 0.44

         
Dec-13 Mineral Reserve
Reconciliation
Silver Reserves
(# = material change at a
material mining project)
Dry
Tonnes
(million)
Silver
Grade
(g/t Ag)
Insitu Silver
(million
ounces)
Ridgeway Underground  - L2 Proven - - -
  Probable 69 0.72 1.6
  Total 69 0.72 1.6
Newcrest - Silver - Excluded Material Proven - - -
  Probable 69 0.72 1.6
  Total 69 0.72 1.6

 

       
Dec-13 Mineral Reserve
Reconciliation
Tonnes Grade Contained Metal
Polymetallic  Reserves
(# = material change at a material mining project)
Dry
Tonnes
(million)
Tungsten
Trioxide
Grade
(% WO3)
Zinc
Grade
(% Zn)
Lead
Grade
(% Pb)
Insitu
Tungsten
Trioxide
(million
tonnes)
Insitu Zinc
(million
tonnes)
Insitu Lead
(million
tonnes)
Proved - - - - - - -
Probable 59 0.34 0.62 0.30 0.20 0.36 0.18
Total Polymetallic 59 0.34 0.62 0.30 0.20 0.36 0.18

 

Note: Data is reported to two significant figures to reflect appropriate precision in the estimate and this may cause some apparent discrepancies in totals.
   
*   The figures shown represent 100% of the Ore Reserve. Gosowong (inclusive of Toguraci and Kencana) is owned and operated by PT Nusa Halmahera Minerals, an incorporated joint venture company (Newcrest, 75%).  Bonikro is inclusive of mining and exploration interests in Côte d'Ivoire held by LGL Mines CI SA (Newcrest, 89.9%), LGL Exploration CI SA (Newcrest, 100%) and LGL Resources CI SA (Newcrest, 99.89%).
   
  Figures Shown for MMJV relate to projects owned by the Morobe Mining unincorporated joint ventures between subsidiaries of Newcrest and Harmony Gold Mining Company Limited (Newcrest, 50%).  Newcrest has a 69.94% share of the Namosi unincorporated joint venture.

Table 4: Mineral Resources Statement as at December 31, 2013

Table 4 sets out estimates of Measured, Indicated and Inferred Mineral Resources for Newcrest's assets as at December 31, 2013. Mineral Resources are reported inclusive of Ore Reserves. As a result, Ore Reserve estimates should not be added to the corresponding Mineral Resource estimates.

Mineral Resources that do not form part of the Ore Reserves do not have economic viability. Due to lower certainty of their recoverability, the inclusion of resource estimates should not be regarded as a representation by Newcrest that such amounts can necessarily be economically exploited, and investors are cautioned not to place undue reliance upon such figures. Therefore, no assurances can be given that the estimates of reserves or resources presented in this release will be recovered at the tonnages and ore grades presented, or at all.

             
Dec-13 Mineral Resources Gold and Copper Resources
(# = material change at a
material mining project)
Dry
Tonnes
(million)
Gold
Grade
(g/t Au)
Copper
Grade
(% Cu)
Insitu Gold
(million
ounces)
Insitu
Copper
(million
tonnes)
Cadia East Underground Measured 0.20 0.87 0.22 0.0056 0.00044
  Indicated 2,500 0.42 0.28 33 6.8
  Total 2,500 0.42 0.28 33 6.8
Ridgeway Underground Measured 0.15 1.2 0.49 0.0058 0.00073
  Indicated 120 0.63 0.32 2.5 0.40
  Total 120 0.63 0.32 2.5 0.40
Other Measured 160 0.45 0.13 2.3 0.20
  Indicated 170 0.36 0.23 1.9 0.39
  Total 320 0.40 0.18 4.2 0.58
Combined Cadia Province - Gold and Copper Measured 160 0.45 0.13 2.3 0.20
  Indicated 2,800 0.42 0.27 38 7.6
  Total 2,900 0.43 0.27 40 7.8
Main Dome Open Pit # Measured 24 0.40 0.086 0.32 0.021
  Indicated 210 0.67 0.086 4.5 0.18
  Total 240 0.64 0.086 4.9 0.20
West Dome Open Pit # Measured - - - - -
  Indicated 170 0.66 0.057 3.6 0.10
  Total 170 0.66 0.057 3.6 0.10
Telfer Underground Measured - - - - -
  Indicated 96 1.5 0.33 4.7 0.31
  Total 96 1.5 0.33 4.7 0.31
Other Measured - - - - -
  Indicated 0.57 4.2 0.027 0.077 0.00015
  Total 0.57 4.2 0.027 0.077 0.00015
O'Callaghans Measured - - - - -
  Indicated 69 - 0.29 - 0.20
  Total 69 - 0.29 - 0.20
Combined Telfer Province - Gold and Copper Measured 24 0.40 0.086 0.32 0.021
  Indicated 550 0.73 0.15 13 0.79
  Total 570 0.72 0.14 13 0.82
Lihir # Measured 100 2.2 - 7.2 -
  Indicated 660 2.1 - 44 -
  Total 760 2.1 - 51 -
Gosowong * Measured - - - - -
  Indicated 3.7 13 - 1.6 -
  Total 3.7 13 - 1.6 -
Bonikro * Measured 5.7 0.73 - 0.13 -
  Indicated 36 1.6 - 1.8 -
  Total 42 1.5 - 2.0 -
Namosi JV (69.94%) Measured - - - - -
  Indicated 1,300 0.11 0.33 4.7 4.5
  Total 1,300 0.11 0.33 4.7 4.5
Marsden Measured - - - - -
  Indicated 200 0.19 0.37 1.2 0.72
  Total 200 0.19 0.37 1.2 0.72
MMJV - Hidden Valley Operations (50%) Measured 0.83 1.2 - 0.031 -
  Indicated 55 1.5 - 2.7 -
  Total 55 1.5 - 2.7 -
MMJV - Wafi / Golpu / Nambonga (50%) Measured - - - - -
  Indicated 460 0.77 0.81 11 3.7
  Total 460 0.77 0.81 11 3.7
Combined Other Provinces - Gold and Copper Measured 110 2.1 - 7.3 -
  Indicated 2,800 0.76 0.32 68 8.9
  Total 2,900 0.82 0.31 75 8.9
Newcrest - Gold and Copper Measured 290 1.1 0.08 9.9 0.22
  Indicated 6,100 0.61 0.29 120 17
  Total 6,400 0.63 0.28 130 18

 

Note: Data is reported to two significant figures to reflect appropriate precision in the estimate and this may cause some apparent discrepancies in totals.
   
*   The figures shown represent 100% of the Mineral Resource. Gosowong (inclusive of Toguraci and Kencana) is owned and operated by PT Nusa Halmahera Minerals, an incorporated joint venture company (Newcrest, 75%).  Bonikro is inclusive of mining and exploration interests in Côte d'Ivoire held by LGL Mines CI SA (Newcrest, 89.9%), LGL Exploration CI SA (Newcrest, 100%) and LGL Resources CI SA (Newcrest, 99.89%).
   
  Figures Shown for MMJV relate to projects owned by the Morobe Mining unincorporated joint ventures between subsidiaries of Newcrest and Harmony Gold Mining Company Limited (Newcrest, 50%).  Newcrest has a 69.94% share of the Namosi unincorporated joint venture.

             
Dec-13 Mineral Resources Gold and Copper Resources
(# = material change at a
material mining project)
Dry
Tonnes
(million)
Gold
Grade
(g/t Au)
Copper
Grade
(% Cu)
Insitu Gold
(million
ounces)
Insitu
Copper
(million
tonnes)
Cadia East Underground Inferred 360 0.34 0.19 4.0 0.69
Ridgeway Underground  Inferred 43 0.37 0.39 0.51 0.17
Other  Inferred 260 0.30 0.098 2.5 0.25
Total Cadia Province - Gold and Copper Subtotal 660 0.33 0.17 7.0 1.1
Main Dome Open Pit # Inferred 2.6 0.56 0.094 0.046 0.0024
West Dome Open Pit # Inferred 1.1 0.46 0.056 0.017 0.00064
Telfer Underground Inferred 53 0.95 0.21 1.6 0.11
Other Inferred 16 0.28 0.34 0.14 0.053
O'Callaghans Inferred 9.0 - 0.24 - 0.022
Total Telfer Province - Gold and Copper Subtotal 82 0.70 0.23 1.8 0.19
Lihir # Inferred 130 2.10 - 8.40 -
Gosowong * Inferred 0.49 7.6 - 0.12 -
Bonikro * Inferred 8.9 1.3 - 0.37 -
Namosi JV (69.94%) Inferred 260 0.10 0.38 0.82 1.0
Marsden Inferred 35 0.076 0.17 0.084 0.06
MMJV - Hidden Valley Operations (50%) Inferred 3.1 1.2 - 0.12 -
MMJV - Wafi / Golpu / Nambonga (50%) Inferred 130 0.70 0.64 2.8 0.80
Total Other Provinces - Gold and Copper Subtotal 560 0.70 0.33 13 1.9
Newcrest - Gold and Copper Total 1,300 0.51 0.24 22 3.2

 

         
Dec-13 Mineral Resources Silver Resources
(# = material change at a
material mining project)
Dry
Tonnes
(million)
Silver
Grade
(g/t Ag)
Insitu Silver
(million
ounces)
Cadia Valley Operations Measured 0.35 0.73 0.0083
  Indicated 2,600 0.60 51
  Total 2,600 0.60 51
Gosowong * Measured - - -
  Indicated 3.7 21 2.5
  Total 3.7 21 2.5
MMJV - Hidden Valley / Hamata / Kaveroi (50%) Measured 0.83 23 0.62
  Indicated 55 27 47
  Total 55 27 48
MMJV - Wafi / Golpu / Nambonga (50%) Measured - - -
  Indicated 460 1.4 21
  Total 460 1.4 21
Newcrest Silver Measured 1.20 17 0.63
  Indicated 3,100 1.2 120
  Total 3,100 1.2 120

         
Dec-13 Mineral Resources Silver Resources
(# = material change at a
material mining project)
Dry
Tonnes
(million)
Silver
Grade
(g/t Ag)
Insitu Silver
(million
ounces)
Cadia Valley Operations Inferred 410 0.40 5.2
Gosowong * Inferred 0.49 14 0.22
MMJV - Hidden Valley / Hamata / Kaveroi (50%) Inferred 3.1 26 2.6
MMJV - Wafi / Golpu / Nambonga (50%) Inferred 110 1.2 4.1
Newcrest Silver Total 520 0.73 12

 

Note: Data is reported to two significant figures to reflect appropriate precision in the estimate and this may cause some apparent discrepancies in totals.
   
The figures shown represent 100% of the Mineral Resource. Gosowong (inclusive of Toguraci and Kencana) is owned and operated by PT Nusa Halmahera Minerals, an incorporated joint venture company (Newcrest, 75%).  Bonikro is inclusive of mining and exploration interests in Côte d'Ivoire held by LGL Mines CI SA (Newcrest, 89.9%), LGL Exploration CI SA (Newcrest, 100%) and LGL Resources CI SA (Newcrest, 99.89%).
   
  Figures Shown for MMJV relate to projects owned by the Morobe Mining unincorporated joint ventures between subsidiaries of Newcrest and Harmony Gold Mining Company Limited (Newcrest, 50%).  Newcrest has a 69.94% share of the Namosi unincorporated joint venture.

                 
Dec-13 Mineral Resources Polymetallic Resources
(# = material change at a
material mining project)
Dry
Tonnes
(million)
Tungsten
Trioxide
Grade
(% WO3)
Zinc
Grade
(% Zn)
Lead
Grade
(% Pb)
Insitu
Tungsten
Trioxide
(million
tonnes)
Insitu Zinc
(million
tonnes)
Insitu Lead
(million
tonnes)
O'Callaghans Measured - - - - - - -
  Indicated 69 0.34 0.55 0.27 0.24 0.38 0.18
  Total 69 0.34 0.55 0.27 0.24 0.38 0.18
Newcrest Polymetallic Measured - - - - - - -
  Indicated 69 0.34 0.55 0.27 0.24 0.38 0.18
  Total 69 0.34 0.55 0.27 0.24 0.38 0.18

 

                 
Dec-13 Mineral Resources Polymetallic Resources
(# = material change at a
material mining project)
Dry
Tonnes
(million)
Tungsten
Trioxide
Grade
(% WO3)
Zinc
Grade
(% Zn)
Lead
Grade
(% Pb)
Insitu
Tungsten
Trioxide
(million
tonnes)
Insitu Zinc
(million
tonnes)
Insitu Lead
(million
tonnes)
O'Callaghans Inferred 9.0 0.25 0.15 0.073 0.023 0.013 0.0066
Newcrest Polymetallic Total 9.0 0.25 0.15 0.073 0.023 0.013 0.0066

 

Note: Data is reported to two significant figures to reflect appropriate precision in the estimate and this may cause some apparent discrepancies in totals.
   
The figures shown represent 100% of the Mineral Resource. Gosowong (inclusive of Toguraci and Kencana) is owned and operated by PT Nusa Halmahera Minerals, an incorporated joint venture company (Newcrest, 75%).  Bonikro is inclusive of mining and exploration interests in Côte d'Ivoire held by LGL Mines CI SA (Newcrest, 89.9%), LGL Exploration CI SA (Newcrest, 100%) and LGL Resources CI SA (Newcrest, 99.89%).
   
  Figures Shown for MMJV relate to projects owned by the Morobe Mining unincorporated joint ventures between subsidiaries of Newcrest and Harmony Gold Mining Company Limited (Newcrest, 50%).  Newcrest has a 69.94% share of the Namosi unincorporated joint venture.

Ore Reserves and Mineral Resources Reporting Requirements

As an Australian company with securities listed on the Australian Securities Exchange ("ASX"), Newcrest is subject to Australian disclosure requirements and standards, including the requirements of the Corporations Act and the ASX listing rules. Investors should note that it is a requirement of the ASX listing rules that the reporting of Ore Reserves and Mineral Resources in Australia comply with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the "JORC Code") and that Newcrest's Ore Reserve and Mineral Resource estimates comply with the JORC Code. Newcrest ceased its listing on the Toronto Stock Exchange ("TSX") on 4 September 2013, but will remain subject to certain Canadian disclosure requirements and standards until it ceases to be an Ontario Securities Commission registrant. Prior to that, Newcrest will continue, in accordance with the requirements of National Instrument 43-101 - Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators, to report its Ore Reserves and Mineral Resources estimates in compliance with the JORC Code, along with a reconciliation to the material differences between the JORC Code and the applicable definitions adopted by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM Definition Standards). In relation to the December 2013 Resources and Reserves Statement, the reconciliation is set out in Newcrest's Canadian News Release dated 14 February 2014, and is available at www.sedar.com and at Newcrest's website www.newcrest.com.au.  Except as otherwise noted in that document, there are no material differences between the definitions of Measured, Indicated and Inferred Mineral Resources, and Proven and Probable Reserves, under the CIM Definition Standards and the equivalent or corresponding definitions in the JORC Code.

Qualified Person

The information in this release that relates to Mineral Resources, Ore Reserves, Exploration Results and other scientific and technical information is based on information compiled by or under the direction of Colin Moorhead, EGM Minerals for Newcrest Mining Limited, who is a Fellow of The Australasian Institute of Mining and Metallurgy and a full-time employee of Newcrest Mining Limited. Mr Moorhead has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration, and to the activity which he is undertaking, to qualify as a Competent Person as defined in the JORC Code and a Qualified Person within the meaning of NI 43-101. Mr Moorhead consents to and has approved the inclusion in this release of the matters based on this information in the form and context in which it appears, including sampling, analytical and test data underlying the results The Mineral Resource and Ore Reserve Explanatory Notes 2013 containing more detailed information on the methods and parameters used to estimate Mineral Resources and Ore Reserves are presented on the Newcrest website at www.newcrest.com.au.

 

SOURCE Newcrest Mining Limited



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