In August 2019, Newcrest acquired 70% of the Red Chris operation in a joint venture with Imperial Metals.
In March 2019, and following an intensive due diligence process, Newcrest entered into an agreement with Imperial Metals to acquire 70% of the Red Chris Mine.
The acquisition completed on 15 August 2019. We see this as a meaningful, yet measured entry into North America and believe Red Chris has the potential significant expansion through the application of our technical expertise.
The size of this transaction was readily accommodated by our strong cashflows and did not put at risk our strong balance sheet and liquidity position.
We’re implementing our technical capabilities via a two stage transformation approach.
Stage 1: Apply Newcrest’s Edge transformation approach
Process plant optimisation
Supply chain cost reduction
Extensional resource and exploration drilling program
Stage 2: Apply Newcrest’s industry leading technology
- Block caving
- Coarse ore floatation
- Mass sensing and sorted
- Deep underground brownfield and greenfield exploration