Newcrest still owner of NSW exploration licence

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The National, Monday 27th May 2013

 THE ownership of exploration licence (EL) 3856 for Cadia district in New South Wales, Australia, still remains with Newcrest.

In a statement released last week, Newcrest confirms that following a land and environment court judgment last May 17, Newcrest’s EL 3856 in the Cadia district of NSW continues to have full effect and remains in Newcrest’s ownership.

EL 3856 is an exploration tenement that is separate from Newcrest’s current Cadia Valley operations.

The latest renewal of the term of EL 3856 is to be reconsidered by the NSW minister for resources and energy. 

This follows a finding by the court that there was insufficient evidence on the Mines Department file to demonstrate that the minister’s delegate had been satisfied that ‘special circumstances’ existed to support a decision to renew the exploration licence for its entire geographic area. (Note that unless ‘special circumstances’ apply to a renewal, 50% of the area of an exploration licence must be relinquished upon renewal.

The court orders require the minister to reconsider and properly record the reasons for arriving at the “special circumstances” decision. 

The court confirmed that Newcrest’s EL 3856 remains valid pending the reconsideration of the ‘special circumstances’ renewal application.

The decision of the court relates to a legal action brought by Gold and Copper Resources Pty Ltd (GCR) against the minister and Newcrest. In the same judgment, the Court dismissed claims by GCR of false or misleading conduct on the part of Newcrest in the renewal process, and also dismissed claims by GCR that a five year renewal of the exploration licence could not be made.