In the East Zone, infill resource drilling results since acquisition have confirmed the presence of multiple discrete higher grade ‘pods’ of mineralisation. Drilling results returned to date continue to confirm the potential of finding additional discrete high grade ‘pods’ of mineralisation in the porphyry corridor.
Newcrest has a history of delivering value through the application of technology and innovation. Our current leading position within the gold industry in block cave mining is a direct outcome of this. As the world’s remaining ore deposits become deeper and lower grade, block cave mining with its high productivity and low operating costs has become the underground mining method of choice when the orebody warrants it.
We are pleased to announce that we have now delivered five breakthrough successes against our Technology and Innovation Pillar, with the successful trialling of a new generation of high temperature electronic detonators at Lihir and the completion of our undercutless caving trial at Telfer.
Over the course of the financial year we continued to integrate our sustainability objectives and targets throughout the business. During the financial year we received formal endorsement from the International Council on Mining and Metals (ICMM) confirming that our Sustainability Framework fully aligns to the ICMM membership requirements.
We also progressed the implementation of our sustainability-related Climate Change, Water Stewardship, Biodiversity and Social Performance policies.
The achievements made throughout the year would not have been possible without the commitment of our people. Our people at Lihir, Telfer and Red Chris agreed to extended rosters to support the operations following the COVID-19 pandemic, whilst people at Cadia and our corporate offices have had to adapt to working from home where possible in these unprecedented circumstances.
During the year, the Board and Executive Committee supported an initiative to refresh our Diversity and Inclusion Strategy to leverage our strengths, address our gaps and develop a multi-year action plan to meet our aspirations. Our continued focus under this strategy is to increase the representation of women across our business globally, especially in management and leadership positions, and improve the representation of indigenous and local and national employees globally.
We enter the new financial year in a strong financial position as we move into our next growth chapter. Thank you to our people, shareholders, suppliers, customers and local communities for your continued support.