MLC salutes $93m Telfer investment

Member for the Mining and Pastoral Region Robin Scott has welcomed Newcrest’s announcement of a $93 million investment in the Telfer Mine.

Newcrest last week announced it would push ahead with capital works at its Telfer gold mine in the Pilbara, stretching the life of the open pit out beyond 2020.

Mr Scott said the news signalled strong potential in the State’s investment.

“This is excellent news for all the good people who directly and indirectly rely on Telfer for their income,” he said.

“All West Australians of goodwill want more mines employing more West Australians and producing more gold to pay more royalties.”

Newcrest managing director and chief executive Sandeep Biswas said: “We are pleased and relieved that the WA Parliament voted last week not to proceed with the planned increase in the gold royalty rate.

“This decision, and the positive signal it sent about the State's investment potential, has enabled us to proceed confidently with this investment to extend Telfer’s mine life.

“It means jobs, ongoing royalties, a substantial flow of economic activity, and ongoing community services and employment opportunities in one of the most remote parts of Australia.”

The extra investment expenditure is set to start in the current quarter.