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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).

Newcrest Cadia tailings dam failure hits home Newcrest Cadia tailings dam failure hits home Newcrest Cadia tailings dam failure hits home Newcrest Cadia tailings dam failure hits home Newcrest Cadia tailings dam failure hits home

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 again.

It's a case of yet again for Cadia as in April last year a large seismic event (4.3 magnitude) knocked out production from one of the underground panel caves for three months, and the other panel cave for four months.

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