Melbourne, Australia--(Newsfile Corp. - March 2, 2021) - Newcrest Mining Limited (ASX: NCM) (TSX: NCM) (PNGX: NCM) is pleased to announce that it has renewed its unsecured bilateral bank lending facilities with its existing 13 bank lenders, extending the maturity dates.
Each bank has committed approximately US$154 million in facilities for an overall unchanged quantum of
US$2 billion on similar commercial terms for Newcrest.
The facilities have tenors of three or five years, the aggregate of which is as follows:
- US$1,077 million of facilities maturing in FY24
- US$923 million of facilities maturing in FY26
Newcrest's bank lending facilities were undrawn at 31 December 2020 and the Company had US$1,744 million of cash on hand at this date. These bank lending facilities remain undrawn.
Newcrest Finance Director and Chief Financial Officer, Gerard Bond, said "Newcrest has a strong banking group who have supported the Company for many years. We are pleased to have their continued provision of committed bank facilities which provides considerable liquidity and financial flexibility for Newcrest at low cost."
Authorised by the Newcrest Disclosure Committee
For further information please contact
+61 3 9522 5570
+61 450 541 389
+61 3 9522 5334
+61 407 269 478
North American Investor Enquiries
+1 866 396 0242
+61 403 435 222
+61 3 9522 5570
+61 450 541 389
+61 3 9522 5750
+61 409 869 986
This information is available on our website at www.newcrest.com
Forward Looking Statements
This document includes forward looking statements and forward looking information within the meaning of securities laws of applicable jurisdictions. Forward looking statements can generally be identified by the use of words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "believe", "continue", "objectives", "targets", "outlook" and "guidance", or other similar words and may include, without limitation, statements regarding estimated reserves and resources, certain plans, strategies, aspirations and objectives of management, anticipated production, study or construction dates, expected costs, cash flow or production outputs and anticipated productive lives of projects and mines. Newcrest continues to distinguish between outlook and guidance. Guidance statements relate to the current financial year. Outlook statements relate to years subsequent to the current financial year.
These forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Newcrest's actual results, performance and achievements or industry results to differ materially from any future results, performance or achievements, or industry results, expressed or implied by these forward-looking statements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which Newcrest operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. For further information as to the risks which may impact on Newcrest's results and performance, please see the risk factors included in the Annual Information Form dated 13 October 2020 lodged with ASX and SEDAR.
Forward looking statements are based on Newcrest's good faith assumptions as to the financial, market, regulatory and other relevant environments that will exist and affect Newcrest's business and operations in the future. Newcrest does not give any assurance that the assumptions will prove to be correct. There may be other factors that could cause actual results or events not to be as anticipated, and many events are beyond the reasonable control of Newcrest. Readers are cautioned not to place undue reliance on forward looking statements, particularly in the current economic climate with the significant volatility, uncertainty and disruption caused by the COVID-19 pandemic. Forward looking statements in this document speak only at the date of issue. Except as required by applicable laws or regulations, Newcrest does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in assumptions on which any such statement is based.
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