4420 Newcrest Cover 04 6pp 16/9/04 9:52 AM Page 2 Telfer will be the largest gold mine in Australia, with projected annual production of more than 800,000 ounces of gold and 30,000 tonnes of copper for 24 years, positioning Newcrest as a significant and profitable Australian-based resources business. Newcrest Mining Limited Newcrest – The Sustainable Section 5 Resource Business 1 Sustainability and People 38 Section 1 Health and Safety 40 Our Results 2 Environment 42 Human Resources 43 Performance in Brief 2 Chairman’s Review 4 Section 6 ABN: 20 005 683 625 ABN: Managing Director and Corporate Governance 44 Chief Executive Officer’s Report 5 Board of Directors 45 Newcrest Senior Management 10 Corporate Governance 46 Financial Report 11 Section 7 Section 2 Concise Annual Report 2004 Financials 49 Operations 12 Directors’ Report 50 Cadia Valley Operations 14 Management Discussion and Analysis Ridgeway Gold/Copper Mine 14 of the Financial Statements 56 Cadia Hill Gold/Copper Mine 16 Statement of Financial Performance 58 Toguraci Gold Mine 19 Statement of Financial Position 59 Section 3 Statement of Cash Flows 60 Projects 22 Notes to the Concise Financial Report 61 Directors’ Declaration 68 Telfer Gold/Copper Project 24 Independent Audit Report 69 Cracow 26 Cadia East 28 Shareholder Information 70 Boddington Expansion Project 29 Five Year Summary 72 Section 4 Corporate Directory IBC Exploration 30 Strategy and Review 32 Mineral Resources and Ore Reserves 34 Newcrest Mining Limited Newcrest ABN: 20 005 683 625 Notice of Meeting Notice is hereby given that the 24th Annual General Newcrest Mining Limited Meeting will be held at the Hyatt Regency Hotel, Concise Annual Report 2004 99 Adelaide Terrace, Perth, Western Australia on Wednesday 27 October 2004 at 9.30am. 4420 Newcrest Cover 04 6pp 16/9/04 9:52 AM Page 2 Telfer will be the largest gold mine in Australia, with projected annual production of more than 800,000 ounces of gold and 30,000 tonnes of copper for 24 years, positioning Newcrest as a significant and profitable Australian-based resources business. Newcrest Mining Limited Newcrest – The Sustainable Section 5 Resource Business 1 Sustainability and People 38 Section 1 Health and Safety 40 Our Results 2 Environment 42 Human Resources 43 Performance in Brief 2 Chairman’s Review 4 Section 6 ABN: 20 005 683 625 ABN: Managing Director and Corporate Governance 44 Chief Executive Officer’s Report 5 Board of Directors 45 Newcrest Senior Management 10 Corporate Governance 46 Financial Report 11 Section 7 Section 2 Concise Annual Report 2004 Financials 49 Operations 12 Directors’ Report 50 Cadia Valley Operations 14 Management Discussion and Analysis Ridgeway Gold/Copper Mine 14 of the Financial Statements 56 Cadia Hill Gold/Copper Mine 16 Statement of Financial Performance 58 Toguraci Gold Mine 19 Statement of Financial Position 59 Section 3 Statement of Cash Flows 60 Projects 22 Notes to the Concise Financial Report 61 Directors’ Declaration 68 Telfer Gold/Copper Project 24 Independent Audit Report 69 Cracow 26 Cadia East 28 Shareholder Information 70 Boddington Expansion Project 29 Five Year Summary 72 Section 4 Corporate Directory IBC Exploration 30 Strategy and Review 32 Mineral Resources and Ore Reserves 34 Newcrest Mining Limited Newcrest ABN: 20 005 683 625 Notice of Meeting Notice is hereby given that the 24th Annual General Newcrest Mining Limited Meeting will be held at the Hyatt Regency Hotel, Concise Annual Report 2004 99 Adelaide Terrace, Perth, Western Australia on Wednesday 27 October 2004 at 9.30am. 4420 Newcrest Cover 04 6pp 16/9/04 9:52 AM Page 1 04 Corporate Directory Investor Information Stock Exchange Listings Other Offices Registered and Principal Office Australian Stock Exchange Brisbane Newcrest Mining Limited (Ticker NCM) Exploration Office Level 9 New York ADRs Newcrest Mining Limited 600 St Kilda Road (Ticker NWCNY) Level 2 Melbourne, Victoria 3004 Share Registry 349 Coronation Drive Australia Milton, Queensland 4064 ASX Perpetual Registrars Limited Telephone:+61 (0)3 9522 5333 Australia Level 4 Facsimile: +61 (0)3 9525 2996 Telephone:+61 (0)7 3858 0858 Telfer 333 Collins Street Email: [email protected] Facsimile: +61 (0)7 3217 8233 Internet: www.newcrest.com.au Melbourne, Victoria 3000 Australia Perth Company Secretary Telephone:1300 554 474 Exploration Office & Bernard Lavery +61 (0)3 9615 9947 Telfer Project Group Level 9 Facsimile: +61 (0)3 9615 9900 Newcrest Mining Limited 600 St Kilda Road +61 (0)3 8614 2909* Hyatt Business Centre Melbourne, Victoria 3004 *For faxing of Proxy Forms only. Level 2 Australia Email: [email protected] 30 Terrace Road Telephone:+61 (0)3 9522 5371 Internet: www.asxperpetual.com.au East Perth, Western Australia 6004 Facsimile: +61 (0)3 9521 3564 Australia Email: [email protected] ADR Depositary Telephone:+61 (0)8 9270 7070 General Manager Corporate Affairs The Bank of New York Facsimile: +61 (0)8 9221 7340 Peter Reeve 101 Barclay Street Company Events Level 9 New York, NY 10286 600 St Kilda Road United States of America 27 October 2004 Melbourne, Victoria 3004 Telephone:+1 (212) 815 2218 Annual General Meeting at 9.30am Australia Facsimile: +1 (212) 571 3050 Hyatt Regency Hotel Telephone:+61 (0)3 9522 5339 99 Adelaide Terrace Facsimile: +61 (0)3 9510 3416 Perth, Western Australia Email: [email protected] Visit our website at www.newcrest.com.au to view our key features; current share price; key dates; market releases; annual, quarterly and financial reports; operations, project and exploration information; corporate, shareholder, hedging, employment and sustainability information, visit the photo gallery or contact us. Concise Annual Report This is the Company’s Concise Annual Report for 2004. The full Financial Report and Auditor’s Report are available to members free of charge upon a request in writing. Designed and produced by ard 4420 Newcrest Cover 04 6pp 16/9/04 9:52 AM Page 1 04 Corporate Directory Investor Information Stock Exchange Listings Other Offices Registered and Principal Office Australian Stock Exchange Brisbane Newcrest Mining Limited (Ticker NCM) Exploration Office Level 9 New York ADRs Newcrest Mining Limited 600 St Kilda Road (Ticker NWCNY) Level 2 Melbourne, Victoria 3004 Share Registry 349 Coronation Drive Australia Milton, Queensland 4064 ASX Perpetual Registrars Limited Telephone:+61 (0)3 9522 5333 Australia Level 4 Facsimile: +61 (0)3 9525 2996 Telephone:+61 (0)7 3858 0858 Telfer 333 Collins Street Email: [email protected] Facsimile: +61 (0)7 3217 8233 Internet: www.newcrest.com.au Melbourne, Victoria 3000 Australia Perth Company Secretary Telephone:1300 554 474 Exploration Office & Bernard Lavery +61 (0)3 9615 9947 Telfer Project Group Level 9 Facsimile: +61 (0)3 9615 9900 Newcrest Mining Limited 600 St Kilda Road +61 (0)3 8614 2909* Hyatt Business Centre Melbourne, Victoria 3004 *For faxing of Proxy Forms only. Level 2 Australia Email: [email protected] 30 Terrace Road Telephone:+61 (0)3 9522 5371 Internet: www.asxperpetual.com.au East Perth, Western Australia 6004 Facsimile: +61 (0)3 9521 3564 Australia Email: [email protected] ADR Depositary Telephone:+61 (0)8 9270 7070 General Manager Corporate Affairs The Bank of New York Facsimile: +61 (0)8 9221 7340 Peter Reeve 101 Barclay Street Company Events Level 9 New York, NY 10286 600 St Kilda Road United States of America 27 October 2004 Melbourne, Victoria 3004 Telephone:+1 (212) 815 2218 Annual General Meeting at 9.30am Australia Facsimile: +1 (212) 571 3050 Hyatt Regency Hotel Telephone:+61 (0)3 9522 5339 99 Adelaide Terrace Facsimile: +61 (0)3 9510 3416 Perth, Western Australia Email: [email protected] Visit our website at www.newcrest.com.au to view our key features; current share price; key dates; market releases; annual, quarterly and financial reports; operations, project and exploration information; corporate, shareholder, hedging, employment and sustainability information, visit the photo gallery or contact us. Concise Annual Report This is the Company’s Concise Annual Report for 2004. The full Financial Report and Auditor’s Report are available to members free of charge upon a request in writing. Designed and produced by ard Newcrest – The Sustainable Resource Business Who we are: Newcrest explores for, develops and operates gold and copper mines. Using a combination of technical skills and mining experience, we focus on the fundamental elements of resource projects to ensure strong financial returns. Newcrest’s Board and Executives are a diverse and experienced team with a strong knowledge of the mining industry. They aim to deliver growth opportunities and ultimately sustainable financial returns to Newcrest’s shareholders. What we do: Newcrest maintains a strategy of developing low-cost, long-life mines and also smaller high-margin mines. We aim to operate projects in the lowest cost quartile in order to maximise profitability and minimise the impact from commodity price variation. Exploration remains the key plank of our business building strategy. How we performed: During the 2003/04 year, Newcrest delivered a profit of $122.9 million, rising 33 percent, with Ridgeway and Toguraci performing strongly. Cadia Hill’s contribution underperformed budget. With the completion of the large Telfer gold/copper and smaller Cracow gold mines, Newcrest will continue its strong record in project delivery – from exploration through development to operations. Newcrest Mining Concise Annual Report 2004 1 Performance