Gas shortage cost Newcrest Mining $10 million
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Newcrest Mining says the shortage of gas cost it $10 million.
Australia's biggest gold producer has revealed the gas shortage caused by an explosion at Apache Energy's Varanus Island site off WA has cost the company nearly $10 million.
Newcrest Mining has reported a record profit of $134 million but says its Telfer gold mine in the Pilbara failed to meet production targets because of surging fuel, labour and power prices.
It says a disruption to gas supplies in the wake of an explosion in early June left the Telfer mine scrambling for power and cost the company an additional $9.3 million.
