https://www.miningweekly.com

Court upholds Newcrest fine

Court upholds Newcrest fine

Photo by Bloomberg

3rd July 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – The Australian Federal Court has fined gold major Newcrest Mining A$1.2-million for contravening the continuous disclosure provision of the Corporations Act on two occasions.

In June this year, the gold miner admitted to breaching the disclosure laws after an investigation by the Australian Securities and Investment Commission (Asic). The industry watchdog applied to the Federal Court seeking a declaration of two contraventions, and aggregate civil penalties of A$1.2-million.

In making its determination, the Federal Court took into consideration the agreed statement of facts and admissions, which Asic and Newcrest had agreed upon, the gold miner said.

The Asic accusations related to a series of briefings to analysts in 2013, in which the gold miner disclosed information regarding the company’s expected gold production for the 2013/14 financial year and information regarding its expected capital expenditure for the 2013/14 financial year.

The miner subsequently commissioned an independent review of its disclosure practices and has made changes to these.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 
MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.046 0.068s - 111pq - 2rq
Subscribe Now