RBC: Newcrest may write down 30 billion yuan in assets

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release time:

2014-01-24 17: 40: 26



Australia Daily 


Editor in charge: Catherine  

  (From this report) Royal Bank of Canada Capital Markets (RBC Capital Markets) pointed out after the gold miner Newcrest Mining released the fourth quarter production report that the gold miner may announce an asset write-down of 30 billion in its annual report next month Yuan news.

  RBC pointed out that as the reserves of the Telfer mine in Western Australia may be reduced, its value may therefore be written down by RMB 3-4 million.However, if Newcrest decides to lower the price of gold that it calculates the value of its reserves, the extent of asset write-downs will be further expanded.A reduction in the price of gold by 100 US dollars per ounce means that Newcrest's assets may be written down by 20 to 30 billion yuan.


  RBC pointed out that Newcrest's Telfer in Western Australia had 2012 million ounces of reserves as of December 12, 31, but the gold mine is expected to close in 1160-2017. RBC said Telfer's reserves may be reduced by 2018 million ounces, which will result in substantial asset losses.

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