Newcrest goes vanilla

Corporate profile

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Newcrest Mining, Australia’s biggest locally owned gold miner, shocked investors last year when it reporteda A$53 million (US$36 million) loss compared with a A$38.2 million profit forthe previous period. The red ink flowed from provisions for surplus hedge positions,and from a restructuring of its loss-making hedge book.

Things are different now. Following a change of senior personnel between Julyand September last year – including a new chief financial officer and treasurer – theMelbourne-b

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