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Newcrest Annual Report 2010 Worldreginfo - 4A6b3bfe-C7ad-438F-Af6e-99Fdccb761aa CORPORATE DIRECTORY

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Newcrest Annual Report 2010 Worldreginfo - 4A6b3bfe-C7ad-438F-Af6e-99Fdccb761aa CORPORATE DIRECTORY NEWCREST MINING LIMITED NEWCREST Newcrest annual Report ABN 20 005 683 625 2010 ANNUAL REPORT 2010 WorldReginfo - 4a6b3bfe-c7ad-438f-af6e-99fdccb761aa CORPORATE DIRECTORY Investor Information ADR Depositary Registered and Principal Office BNY Mellon Shareowner Services Newcrest Mining Limited PO Box 358516 Level 9, 600 St Kilda Road Pittsburgh, PA 15252-8516 2 About Newcrest Melbourne, Victoria 3004 Telephone: Toll Free for domestic callers: 1-888-BNY-ADRS or 1-888-269-2377 4 Results 2010 Australia International Callers: +1 201-680-6825 6 Chairman’s Report T: +61 (0)3 9522 5333 F: +61 (0)3 9525 2996 Email: [email protected] 8 Managing Director’s Review Email: [email protected] Internet: www.bnymellon.com\shareowner 10 The Board Internet: www.newcrest.com.au 12 Mineral Resources and Ore Reserves Other Offices 20 Corporate Governance Company Secretary Brisbane Office 25 Financial Report Stephen Creese Newcrest Mining Limited Newcrest Mining Limited Level 32, 400 George Street 26 Directors’ Report Level 9, 600 St Kilda Road Brisbane, Queensland 4000 29 Management Discussion and Analysis Melbourne, Victoria 3004 Australia 36 Remuneration Report Australia Telephone: +61 (0)7 3318 3300 57 Auditor’s Independence Declaration T: +61 (0)3 9522 5333 Facsimile: +61 (0)7 3318 9203 58 Income Statement F: +61 (0)3 9521 3564 Perth & Telfer Office 59 Email: [email protected] Statement of Comprehensive Income Newcrest Mining Limited 60 Statement of Financial Position Head of Investor Relations 193 Great Eastern Highway 61 Statement of Cash Flows Steve Warner Belmont, Western Australia 6104 62 Statement of Changes in Equity Level 9, 600 St Kilda Road Australia 63 Notes to the Financial Statements Melbourne, Victoria 3004 Telephone: +61 (0)8 9270 7070 111 Directors’ Declaration Australia Facsimile: +61 (0)8 9277 7127 Telephone: + 61 (0)3 9522 5316 112 Independent Auditor’s Report Facsimile: + 61 (0)3 9522 5502 Annual General Meeting 114 Shareholder Information Email: [email protected] 28 October 2010 at 10.30am 116 Five Year Summary ANZ Pavilion IBC Corporate Directory Stock Exchange Listings 100 St Kilda Road Australian Securities Exchange Melbourne, Victoria 3004 (Ticker NCM) New York ADRs Visit our website at (Ticker NCMGY) www.newcrest.com.au to view our key dates and features; Share Registry current share price, market releases, Link Market Services Limited annual, quarterly and financial Level 1, 333 Collins Street reports; operations, project and Melbourne, Victoria 3000 exploration information; corporate, Australia shareholder, hedging, employment Postal Address and sustainability information. Locked Bag A14 Sydney South New South Wales 1235 Australia Telephone: 1300 554 474 +61 (0)2 8280 7111 Facsimile: +61 (0)2 9287 0303 +61 (0)2 9287 0309* *For faxing of Proxy Forms only. Email: [email protected] Internet: www.linkmarketservices.com.au Steve Baker (Plant Metallurgist) and Sunny Tan (Plant Metallurgist) inspecting Processing Plant, Telfer WorldReginfo - 4a6b3bfe-c7ad-438f-af6e-99fdccb761aa STRATEGY Newcrest pursues a strategy of delivering competitive shareholder returns by: – building a portfolio of low-cost, long-life gold assets, primarily through exploration and a focus on early entry merger and acquisition prospects in known gold regions; – optimising performance at each phase of the gold mining value chain; and – harnessing its technical expertise across a wide range of mining and processing methods. VISION Our vision is to be the ‘Miner of Choice’ for all stakeholders, including our employees and contractors, the communities in which we operate and our shareholders. CORPORATE RESPONSIBILITY Newcrest is focussed on maintaining a safe environment for its employees, operating and developing mines in line with good environmental practices and embracing a strong sense of commitment to the local communities around its operations. Building and maintaining sound relationships with the communities surrounding Newcrest’s operations is a key component of being the ‘Miner of Choice’. Lihir Gold Limited (LGL) merger Annual General Meeting References throughout this report to Mineral The 30th Annual General Meeting of Newcrest Resources, Ore Reserves and financial information Mining Limited will be held at the ANZ Pavilion, do not include details of LGL assets acquired 100 St Kilda Road, Melbourne, Victoria 3004 as a result of the merger on 13 September 2010 on Thursday 28 October at 10.30am WorldReginfo - 4a6b3bfe-c7ad-438f-af6e-99fdccb761aa NewCReST MiNiNG ANNuAL RePORT 2010 1 about newcrest Newcrest provides investors with exposure to a world-class portfolio of low-cost, long-life operating mines, a strong pipeline of organic growth projects and highly prospective brownfields and greenfields exploration projects. Newcrest is Australia’s largest gold producer and one of the world’s top 10 gold mining companies by production, reserves and market capitalisation. Newcrest operates seven gold mines in Australia, Indonesia and Papua New Guinea and has a substantial reserve and resource base, with reserves representing more than 20 years’ production. A strong focus on innovation and technology in our mining methods ensures our operating costs remain amongst the lowest in the industry. 7 Our exploration team is acknowledged as one of the most operating mines in the successful and lowest cost discoverers in the world today, Asia Pacific region while our project teams continue to successfully deliver the portfolio of development projects. As an unhedged gold producer with low gearing and a strong operating cash flow, Newcrest’s financial strength, coupled with our technical skills, ensure we are well placed to deliver 7,600 a strong organic growth profile over the next ten years. employees and contractors Telfer Processing Plant WorldReginfo - 4a6b3bfe-c7ad-438f-af6e-99fdccb761aa 2 NewCReST MiNiNG ANNuAL RePORT 2010 MOROBE MINING GOSOWONG, INDONESIA NAMOSI, FIJI JOINT VENTURE, PNG (82.5 percent Newcrest) (69.94 percent Newcrest) (50 percent Newcrest) The Gosowong province covers A concept study investigating the approximately 30,000 hectares optimal development of the large The Morobe Mining Joint Venture of highly prospective exploration Waisoi copper deposits is in progress comprises the Hidden Valley ground. The Kencana underground at Namosi while exploration drilling mining operation, the undeveloped mine is one of the highest grade is continuing to evaluate a number Wafi-Golpu orebody and approximately gold mines in the world. of other gold and copper targets 3,400 hectares of highly prospective in this large mineralised district. exploration ground. Production commenced at Hidden Valley in mid 2009 and study work to identify the optimal development of the large Wafi-Golpu orebody is ongoing. CADIA VALLEY, NSW Operations at the large Cadia Valley TELFER, WA mining complex currently comprise Telfer is a large mineralised district CRACOW, QLD the Cadia Hill open pit and the with a centralised ore processing Ridgeway underground mine, which facility. Operations currently comprise (70 percent Newcrest) recently transitioned to the lower- two mines – Main Dome open pit and Production commenced in late cost block cave mining technique. a sub-level cave underground mine, 2004 at this small high-grade Development of the world-class located beneath the Main Dome pit. underground mining operation. Cadia East orebody is in progress. WorldReginfo - 4a6b3bfe-c7ad-438f-af6e-99fdccb761aa NewCReST MiNiNG ANNuAL RePORT 2010 3 results 2010 8% 3% increase decrease Group Gold Production Group Copper Production thousand ounces thousand tonnes 1,781 101 1,762 1,631 1,617 90 89 87 87 1,530 FY FY FY FY FY FY FY FY FY FY 06 07 08 09 10 06 07 08 09 10 Gold doré produced at the Telfer Gold Mine — Newcrest’s cash costs continue to — Record Statutory Profit up 124% be in the lowest cost quartile for global to $556.9 million gold producers — Record operating cash flow up 27% — Group Mineral Resources up 5% to to $1,303.3 million 83.6 million ounces of gold and 20% — Full year dividend increased 67% to 17.25 million tonnes of copper to 25 cents per share, unfranked — Group Ore Reserves up 11% to 47.3 million — Net cash position of $216.5 million ounces of gold and 69% to 7.88 million at 30 June 2010 tonnes of copper — expanded profit margins –e BiTDA — Record underlying Profit up 58% margin 51% – eBiT margin 40% to $763.7 million WorldReginfo - 4a6b3bfe-c7ad-438f-af6e-99fdccb761aa 4 NewCReST MiNiNG ANNuAL RePORT 2010 27% 58% 23% net increase increase increase cash Cash Flow from Operations Underlying Profit Gross Cash Margin Gearing % (Net Debt/ $ million $ million $ per ounce Net Debt & Equity) percentage 763.7 1,303.3 890 50 46 724 1,024.1 1,018.1 668 493.9 483.1 402 330 387.4 191.2 8 263.8 139.0 2 (5) FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY 06 07 08 09 10 06 07 08 09 10 06 07 08 09 10 06 07 08 09 10 12 months to 12 months to % 30 June 2010 30 June 2009 Change Gold produced (ounces) 1,762,200 1,631,183 8 Copper produced (tonnes) 86,816 89,877 (3) Gold price realised ($ per ounce) 1,252 1,169 7 Sales revenue ($ million) 2,801.8 2,530.8 11 Operating eBiT ($ million) 1,127.4 772.6 46 underlying Profit ($ million) 763.7 483.1 58 Statutory Profit ($ million) 556.9 248.1 124 Cash flow from operations ($ million) 1,303.3 1,024.1 27 Capital expenditure (cash flow basis including exploration) ($ million) 886.5 1,381.6 (36) ePS on underlying Profit (cents) 158.0 103.2 53 Return on capital employed (ROCe) (percent) 24 17 7 Gearing (Net Debt/Net equity and equity) (percent) (5) 2 (7) (All $ are Australian denominated unless stated otherwise) WorldReginfo - 4a6b3bfe-c7ad-438f-af6e-99fdccb761aa NewCReST MiNiNG ANNuAL RePORT 2010 5 chairman’s report The Lihir Gold Limited (Lihir) merger positions Newcrest as a significant resources sector participant globally.
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