March 26, 2018 / 10:08 PM / in 7 months

UPDATE 1-Australia's Newcrest to recommence mining at flagship Cadia mine

(Adds details, background, comments on guidance)

March 27 (Reuters) - Newcrest Mining, Australia’s largest independent gold miner, said on Tuesday it will recommence mining operations at its flagship Cadia mine which was closed following damages to a tailings dam wall.

Mining operations will restart at Cadia East, in accordance with predefined test and response program, the company said in a statement.

“Mining will initially be from Panel Cave 1 and then progressively recommence from Panel Cave 2,” Newcrest added.

The Cadia mine in New South Wales, which accounts for a large share of the company’s ore production, had to be shut earlier this month after the company found a dam wall had collapsed.

The Melbourne-based company said that while processing at the mine remains suspended, work is being undertaken on multiple recovery scenarios.

Newcrest, which had earlier flagged that its fiscal 2018 guidance would be adversely affected by the closure, added that it is too early for the company to revise its forecast. (Reporting by Aditya Soni in Bengaluru; editing by Chris Reese and G Crosse)

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