PRECIOUS METALS

Newcrest Cadia tailings dam failure hits home

Newcrest Mining’s (AU:NCM) market value slump since last Friday’s tailings dam wall failure at its flagship Cadia gold-copper mine near Orange in New South Wales has climbed past A$1 billion (US$780 million).

Barry FitzGerald*
 A 400m section of the 6km long tailings wall collapsed at Cadia last Friday

A 400m section of the 6km long tailings wall collapsed at Cadia last Friday

That kind of happens to a company when a mine that accounts for 30% of its gold output, 85% of its copper output, and some 60% of group earnings, gets knocked out of action for an indefinite period, yet...

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