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
The week on Risk.net, December 2–8, 2017Receive this by email