Newcrest Mining’s annual financial review (AFR) for 2017 has been released, and highlights some significant environmental regulation improvements over the previous year’s figures.
The AFR shows developments within the company from June 2016 to June 2017 and mainly focuses on financial aspects such as remuneration and profits.
However, one of the most notable improvements mentioned in the review is site safety and environmental regulation, which saw a reduction of nine reported incidents for an overall improvement of 33 per cent.
Utilising a scale of ‘I’ to ‘V’, where ‘I’ is ‘insignificant’ and V ‘catastrophic’, 2017 has seen only 18 minor (category II) incidents overall, a notable improvement on 2016 figures of 24 minor (category II) and 3 moderate (category III) reported incidents.
This improvement is particularly noteworthy as Newcrest’s premier mining operation at the Cadia East mine in New South Wales was rocked by an earthquake on Good Friday in April this year.
The incident suspended operations — for several months improvements have been ongoing with pre-earthquake levels expected to return by March 2018 — but remarkably resulted in no recorded injuries to staff members.