Newcrest Mining
Newcrest Mining was an Australian gold and copper producer operating tier-1 long-life mines in Australia, Papua New Guinea, and Canada, selling gold and copper concentrate to global commodity markets before being acquired by Newmont in November 2023.
- Company typePrivate
- Founded1966
- HeadquartersMelbourne, Australia
- Headcount5,001–10,000
- GTM typeB2B
- OfferingServices
What Newcrest Mining does
Newcrest Mining was an Australian gold and copper mining company headquartered in Melbourne, founded in 1966 and listed on the ASX under ticker NCM until its acquisition in November 2023. The company operated a portfolio of tier-1 long-life mining assets across multiple jurisdictions, including Cadia in New South Wales (one of the largest gold operations in the Southern Hemisphere, producing ~860,000 oz/yr), Lihir in Papua New Guinea, Red Chris in British Columbia, Brucejack in British Columbia (acquired via the $2.8B Pretivm takeover in 2021), and the Wafi-Golpu joint venture in PNG with Harmony Gold. Cadia alone accounted for ~11% of Newmont's net asset value following the combination, and the merged entity produced ~8 million oz/yr, making it the world's largest gold producer.
The company's revenue model is straightforward commodity sales: gold and copper concentrate produced at its mines is sold into global commodity markets to refineries, smelters, and bullion banks, with realized pricing tied to prevailing spot gold and copper prices. Customer end-markets are horizontal and undifferentiated — jewelry, central banks, industrial manufacturers, and gold investors — meaning the business is a price-taker with no meaningful counterparty concentration. Capital allocation has been dominated by mine development, reserve replacement, and M&A (notably the Pretivm acquisition and the Wafi-Golpu JV), with post-acquisition restructuring under Newmont focused on workforce consolidation, AI-enabled exploration, and renewable-energy build-out (70%+ renewable share) as structural cost levers.
Newcrest Mining firmographics
Firmographics- Name
- Newcrest Mining
- Legal name
- Newcrest Mining Limited
- Website
- https://newcrest.com.au
- Company type
- Private
- Founded year
- 1966
- Operating status
- Acquired
- Headcount range
- 5,001–10,000 employees
- Short description
- Newcrest Mining was an Australian gold and copper producer operating tier-1 long-life mines in Australia, Papua New Guinea, and Canada, selling gold and copper concentrate to global commodity markets before being acquired by Newmont in November 2023.
- Ownership category
- akta.pro rank
Newcrest Mining industry classification
Industry- Product category
- Gold and Copper Mining
- NAICS
- Gold Ore and Silver Ore Mining (21222), Copper, Nickel, Lead, and Zinc Mining (212230)
- SIC
- Gold And Silver Ores (1040)
- akta.pro primary industry
- Gold Mining (IMAKAEAA)
- akta.pro secondary industry
- Copper Ore Mining (Open-Pit & Underground) (IMAKADAB)
Keywords
Where Newcrest Mining is headquartered
LocationHeadquarters
- HQ city
- Melbourne
- HQ country
- Australia
- HQ region
- Oceania
Offices3 records
Markets served
Newcrest Mining business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D, Others
Revenue model
- Gold and Copper Mining Production: Extraction and sale of gold and gold-copper concentrates from mining operations
Distribution channels1 record
Marketing channels1 record
Newcrest Mining product offering
Product offeringCore offering
Newcrest Mining operates a portfolio of long-life, large-scale gold and copper-gold mines that produce gold doré bars and copper-gold concentrates for sale to refiners, smelters, and metal traders. Its producing assets include the Cadia operation in New South Wales (Australia), Lihir in Papua New Guinea, Brucejack in British Columbia (Canada), and the Red Chris joint venture in British Columbia, alongside the Wafi-Golpu development project in Papua New Guinea. The company also invests in greenfield and brownfield mineral exploration to sustain and grow its reserve base.
Product overview
Newcrest Mining Limited was an Australian gold and gold-copper mining company with operations across Australia, Papua New Guinea, Canada, and Indonesia. The company explored, developed, and produced gold and gold-copper concentrates. Major assets included the Cadia mine in New South Wales (producing approximately 860,000 oz annually), the Lihir mine in Papua New Guinea, the Wafi-Golpu joint venture project in Papua New Guinea with Harmony Gold, and Red Chris in Canada. Newcrest was acquired by Newmont Corporation in November 2023 for approximately $17 billion, making Newmont the world's largest gold producer.
Differentiator
Problem solved
Functional benefit
Products and services
- Gold doré from Cadia (NSW, Australia)
Quantifiable outcome
- 18% reduction in water usage across operations
- +4 more outcomes
Companies that use Newcrest Mining
Customer profileSegments3 records
Ideal customer profiles2 records
Newcrest Mining technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Newcrest Mining partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Harmony Gold Mining CompanycoreJoint development of the Wafi-Golpu gold-copper mining project in Papua New Guinea's Morobe Province. Project contains estimated resources of 15 million ounces of gold and 5 billion pounds of copper, with anticipated annual output of approximately 400,000 ounces of gold and over 100,000 tonnes of copper by 2025. Expected to contribute over 5% to PNG's GDP and create more than 2,500 direct jobs.
Scale indicators11 records
Recent moves6 records
Expansion highlights3 records
Newcrest Mining competitors and assessment
Company assessmentDirect peers
- Newmont Corporation: Parent company of Newcrest Mining and the world's largest gold producer post-acquisition. Operates an overlapping Tier-1 gold and copper portfolio across the Americas, Australia, and Africa with the same mining methods, customer base (smelters, refiners, central banks), and commodity exposure.
- Harmony Gold Mining Company: Joint venture partner on Wafi-Golpu in Papua New Guinea and one of South Africa's largest gold producers. Operates gold and gold-copper assets in similar geographies (PNG, South Africa) and serves as a direct operational and geographic peer.
- Northern Star Resources: Australian-focused gold producer with major operations in Western Australia and the Northern Territory. Competes directly for Australian gold resources, talent, and capital; comparable mid-large cap pure-play gold exposure.
- Evolution Mining: Australian gold producer operating multiple mines across NSW, Queensland, and Western Australia. Directly comparable to Newcrest's Australian operations in scale, geography, and gold-only or gold-copper concentrate output.
Broad incumbents
- Barrick Gold Corporation: One of the world's largest gold miners with Tier-1 assets across the Americas, Africa, and PNG (Porgera). Competes directly with Newcrest/Newmont for tier-1 gold reserves, exploration assets, and capital in the global gold sector.
- AngloGold Ashanti: Major global gold producer with operations across Africa, the Americas, and Australia. Comparable tier-1 gold asset base, similar exposure to deep underground and open-pit operations, and competes for capital and reserves in the same gold commodity market.
- Gold Fields Limited: Major gold miner with operations in Australia (Agnew, St Ives, Gruyere), South Africa, Peru, Chile, and Ghana. Directly competes with Newcrest in Australian gold mining and shares exposure to gold-copper concentrates and smelter sales channels.
- Kinross Gold Corporation: Canadian-based mid-tier gold producer with operations in the Americas, West Africa, and Russia. Comparable in scale (multi-mine portfolio, ~2-3M oz/year), product mix (gold with copper byproduct potential), and capital markets profile.
- Agnico Eagle Mines: Senior Canadian gold miner with operations in Canada, Mexico, Finland, and Australia. Similar tier-1 asset philosophy, comparable production scale, and competes for the same investor capital and Tier-1 reserve acquisitions globally.
Emerging players
- Perseus Mining: Mid-tier gold producer operating in West Africa (Côte d'Ivoire, Ghana) with emerging presence in other jurisdictions. Comparable gold-focused business model and concentrate/ doré production, though smaller in scale than Newcrest.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Newcrest Mining social profiles
Digital presenceNewcrest Mining financial estimates
Financial estimateRevenue estimate
Valuation estimate
Newcrest Mining leadership team
Management profileNumber of profiles
Profiles3 records
Newcrest Mining subsidiaries and ownership
Company hierarchySubsidiaries4 records
Newcrest Mining funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Newcrest Mining M&A and investment
M&A and investmentM&A1 record
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Newcrest Mining
What does Newcrest Mining do?
Newcrest Mining operates a portfolio of long-life, large-scale gold and copper-gold mines that produce gold doré bars and copper-gold concentrates for sale to refiners, smelters, and metal traders. Its producing assets include the Cadia operation in New South Wales (Australia), Lihir in Papua New Guinea, Brucejack in British Columbia (Canada), and the Red Chris joint venture in British Columbia, alongside the Wafi-Golpu development project in Papua New Guinea. The company also invests in greenfield and brownfield mineral exploration to sustain and grow its reserve base.
Is Newcrest Mining a public or private company?
Newcrest Mining is a private company. It is classified as corporate owned and is currently acquired.
When was Newcrest Mining founded?
Newcrest Mining was founded in 1966. It employs 5,001 to 10,000 people.
Where is Newcrest Mining based?
Newcrest Mining is headquartered in Melbourne, Australia, in the Oceania region.
How does Newcrest Mining make money?
One revenue line is on record: gold and Copper Mining Production.
Who are Newcrest Mining's main competitors?
Direct peers on record are Newmont Corporation, Harmony Gold Mining Company, Northern Star Resources and Evolution Mining. Broad incumbents are Barrick Gold Corporation, AngloGold Ashanti, Gold Fields Limited, Kinross Gold Corporation and Agnico Eagle Mines. Perseus Mining is listed as an emerging player.
Does Newcrest Mining have an API?
No public API is recorded for Newcrest Mining.
What industry is Newcrest Mining in?
Newcrest Mining's product category is Gold and Copper Mining. Its primary akta.pro industry code is IMAKAEAA, Gold Mining, with a secondary code of IMAKADAB, Copper Ore Mining (Open-Pit & Underground). Its NAICS code is 21222 and its SIC code is 1040.