Gold Prices Boost Newcrest Profit

NEWCREST Mining's full year profit is up 23 per cent due to rising gold prices and the company expects gold production to rise in the current financial year.

Newcrest today posted a net profit of $1.12 billion for the year to June 30, up from $908 million in the previous corresponding period.

Revenue of $4.4 billion in the year to June was an eight per cent increase on the previous year's $4.1 billion.

Newcrest produced 2.29 million ounces of gold in the year to June, a drop of 10 per cent on the previous year.

The company said it expected production in the 2012/13 financial year to be in a range of 2.3 million to 2.5 million ounces.

Copper production in the year to June of 76,015 tonnes was up one per cent on the previous year.
Newcrest said it expected copper production in 2012/13 to be in the range of 75 thousand tonnes to 85 thousand tonnes.

The statutory profit was a record for Newcrest.

Its underlying profit of $1.1 billion, up two per cent from last year, was also a record.

The difference between the headline and underlying profits related to $46 million gained from the sale of two Queensland projects to Evolution Mining during the year.

Newcrest benefited from a higher realised gold price for the year of $1,609 per ounce, which was 17 per cent or $231 per ounce higher than the previous year.

Elsewhere, cost of sales increased by nine per cent to $2.601 billion, its gold sales fell by six per cent to 2.3 million ounces and production was down 10 per cent.

The company blamed the cost hikes on increased mining activity pushing up the cost of labour, fuel and energy, and negative currency exchange factors.

Newcrest says it plans to pay a final ordinary dividend of 23 cents per share (15 per cent franked), bringing the total to 35 cents per share, 17 per cent higher than the prior year.

It's interim distribution of 12 cents was unfranked.

2014 FIFA World Cup Brazil™ 0.5g Gold Proof Coin - Perth Mint Australia

2014 FIFA World Cup Brazil™ 0.5g Gold Proof Coin featuring:

• Proof Quality 99.99% Pure Gold
• Stunning Reverse Design
• Australian Legal Tender
• Extremely Limited Mintage – 7,500
• Numbered Certificate of Authenticity
• Souvenir Presentation Packaging

The FIFA World Cup is the ultimate competition for any football fan. The Perth Mint is thrilled to present this official licensed product for the 2014 FIFA World Cup Brazil™.
Celebrating the Australian team, this fantastic souvenir struck in gleaming gold makes a fantastic gift or memento of this much-anticipated event.

Proof Quality 99.99% Pure Gold

The coin is struck by The Perth Mint from 0.5g of 99.99% pure gold.

Original Reverse Design

The coin’s reverse depicts a representation of a soccer player incorporating an Aboriginal motif and a map of Australia. The design also includes the inscription 2014 FIFA WORLD CUP BRAZIL™ and The Perth Mint’s ‘P’ mintmark.

Limited Mintage

The Perth Mint will release no more than 7,500 coins.

Australian Legal Tender

Issued as legal tender under the Australian Currency Act 1965, the coin depicts the Ian Rank-Broadley effigy of Her Majesty Queen Elizabeth II on the obverse.

Souvenir Presentation Packaging

The coin is presented in a prestigious display case and souvenir shipper that includes a specially designed numbered Certificate of Authenticity.

2012 Australian Olympic Team 10g Gold Proof Coin - Perth Mint Australia Gold

2012 Australian Olympic Team 10g Gold Proof Coin at The Perth Mint, featuring:

• Proof Quality 99.99% Pure Gold
• Extremely Limited Mintage – 2,012
• Australian Legal Tender
• Presentation Packaging
• Numbered Certificate of Authenticity
• Available Individually or in a Three-Coin Set
• Authorised by the Australian Olympic Committee

From the awe inspiring opening ceremony to the sheer excitement of the competition, the London 2012 Olympic Games will feature thousands of athletes, 26 sports and 205 participating countries.
As the Olympic torch is lit, so will it ignite the hopes of all Australians, to hear again the famous words uttered by Norman May, “Gold! Gold to Australia! Gold!”

Proof Quality 99.99% Pure Gold

The coin is struck by The Perth Mint from 10g of 99.99% pure gold in proof quality.

Original Reverse Design

The coin’s reverse portrays an Olympic athlete, holding the Australian flag aloft and standing on a podium. The design includes the Official Team logo, the inscriptions 2012 AUSTRALIAN OLYMPIC TEAM and GOLD! GOLD TO AUSTRALIA! GOLD!

Extremely Limited Mintage

No more than 2,012 coins will be issued by The Perth Mint.

Australian Legal Tender

Issued as Australian legal tender, the coin's obverse bears the Ian Rank-Broadley effigy of Her Majesty Queen Elizabeth II and the monetary denomination.

Presentation Packaging and Certificate of Authenticity

The coin is presented in a display case with a themed, souvenir shipper and accompanied by a numbered Certificate of Authenticity.

End of Australia's Mining Boom Inevitable: Hockey

Opposition treasury spokesman Joe Hockey has described the federal government's forecast budget surplus as smoke and mirrors after a new report tipping the end of the mining boom.

A Deloitte Access Economics report says Australia's mining boom is about to peak and an economic slowdown is inevitable.

Mr Hockey says the report confirms the coalition's criticism of the government's economic management.

"The government has built a budget that is wholly captive to the mining boom and the taxes to be collected from mining taxes," he told reporters in Sydney on Monday.

"Now it's apparent the budget is unravelling because it was built on smoke and mirrors."
The shadow treasurer said the government had failed to address the inevitable economic downturn that followed an economic peak.

"Every boom ends, otherwise it wouldn't be a boom," Mr Hockey said.

"When the mining boom sneezes, the budget gets pneumonia."

The coalition said the government now needed to explain how it would scramble back to a forecast $1.5 billion budget surplus for 2012/13.

"I'm calling on the government to come clean about what taxes and what levies it will introduce to try and make up for the budget black hole," Mr Hockey said.

Australia's Commodities Price Boom is Over: Ferguson

Australia blew the last mining boom and can no longer rely on high commodities prices, federal Resources Minister Martin Ferguson says, as China's economy continues to slow.

"From here on in, the premium prices are gone," Mr Ferguson told AAP at the opening of the new Australian Minerals Research Centre in Perth on Friday.

"We're not going to see iron ore at $US180-$US190 a tonne, we're not going to see thermal coal at about $US170 (a tonne), coking coal at about $US320 a tonne any more.

"The only way we will maintain our revenue stream as a country, at a state and federal level, is if we expand capacity."

While Australia was in the midst of the greatest mining boom in its history - with $270 billion committed to future projects and $230 billion more potentially on the way - it had failed to fully cash in on the previous boom of the mid-2000s, the resources minister said.

"Australia did not, as a nation, and nor did the companies, get the last resources boom right," he said.
"China grew quicker than expected - they failed to invest in capacity and we lost market share."

Mr Ferguson said Australia was already disadvantaged by its high labour costs and the resources sector needed to be more efficient.

"We are, in essence, a high-wage economy," he said.

"As grades fall and input costs rise, the Australian resources sector will only continue to prosper if more efficient mining and processing techniques are implemented.

"For Australia to remain competitive in a global market in which low-wage competitors are emerging every year, we must ensure that we develop and employ technology."

As mining profits were squeezed, the nation needed to transform itself into a major exporter of minerals and petroleum services and technology, Mr Ferguson said.

This sector was already vibrant, worth $8.9 billion in global sales in 2008/09, he said.

The minister's reality check came as Australia's main trading partner, China, reported that its economic growth had slowed to a three-year low of 7.6 per cent for the June quarter, down from 8.1 per cent in the previous quarter.

Australian Koala 2012 Gold Proof Coins Released by Perth Mint

Marking the fifth year for the gold coin series, the Perth Mint of Australia has released four 2012 Australian Koala Gold Proof Coins, including one in high-relief.

These four strikes are featured in different sizes but all contain the same reverse image chosen by the Perth Mint for use on its series of 2012 koala coins.

Sizes for the Koala Gold Proof Coins include 2 ounces, 1 ounce, 1/10 ounce and 1/25 ounce. The 1 ounce strike is featured in high-relief. All four are struck to proof quality from 99.99% pure gold.
Coins of the series debuted in 2008. They followed a companion series of silver coins which made their first appearance the previous year.

The Perth Mint changes the reverse design of the koala coins annually. In 2008, an adult koala was depicted sitting on a eucalyptus tree branch with its young clinging to its back. In 2009, a single koala was shown sitting on one branch while using its front paws to grasp another. They followed that design in 2010 with a koala clinging to a branch with all fours as it munched on eucalyptus leaves. Last year’s 2011 image depicted an adult koala in the fork of a eucalyptus tree as its young clings to one of the branches.

The design chosen for 2012 shows an adult koala sleeping on the branch of a eucalyptus tree. It was designed by Perth Mint artist Alesha Howarth.

Reverse inscriptions on the coin include the size of the strike along with "9999 GOLD." The Perth Mint’s historic ‘P’ mintmark is also shown on the reverse.

The obverse contains Ian Rank-Broadley’s effigy of Queen Elizabeth II. It is surrounded by
the inscriptions of "ELIZABETH II," "AUSTRALIA," the year and the face value of the coin.

Each of these Australian Koala Gold Proof Coins is struck as legal tender of Australia. The associated face value is AUD $200 for the two ounce coin, $100 for the one ounce, $15 for the 1/10 ounce and $5 for the 1/25 ounce.

Specification for 2012 Australian Koala Gold Proof Coins

	2 oz	1 oz	1/10 oz	1/25 oz
Gold Content (Troy oz)	2	1	1/10	1/25
Face Value (AUD)	200	100	15	5
Fineness (% purity)	99.99	99.99	99.99	99.99
Minimum Gross Weight (g)	62.215	31.107	3.111	1.244
Maximum Diameter (mm)	41.10	27.30	16.60	14.60
Maximum Thickness (mm)	3.90	5.00	1.50	1.40
Mintage	250	2,000	5,000	15,000
Price (AUD)	$5,250.00	$2,990.00	$329.00	$145.00

Each coin is presented in a display case with a numbered certificate of authenticity indicating the maximum mintage of the strike. The coin, case and certificate are presented inside an illustrated shipper.

2012 Australian Koala Gold Proof Coins are available worldwide directly from the Perth Mint of Australia with the exception of the two ounce and one ounce coins for purchasers from the United States. These must be purchased from an authorized distributor.

2012 Discover Australia Platinum Five Coin Set 1/10th Ounce Coins Perth Mint

2012 Discover Australia Platinum Five-Coin Set at The Perth Mint, featuring:

• 99.95% Pure Platinum in Proof Quality
• Five Brilliant New Australian Animal Designs 
• Extremely Limited Mintage – 1,000
• Australian Legal Tender
• Presentation Packaging
• Numbered Certificate of Authenticity
• New One Year Series

Platinum Content (Troy oz)	0.10
Monetary Denomination (AUD)	15
Fineness (% purity)	99.95
Minimum Gross Weight (g)	3.112
Maximum Diameter (mm)	16.60
Maximum Thickness (mm)	1.32

99.95% Pure Platinum in Proof Quality

Each coin is struck by The Perth Mint from 1/10oz of 99.95% pure platinum in proof quality.

Five Brilliant New Australian Animal Designs

The Red Kangaroo, the largest species of this famous animal, is native to Australia and found throughout the mainland across scrubland, grassland and desert habitats.  The coin's reverse depicts a Red Kangaroo jumping across the ochred-coloured earth of the Australian outback.  The inscriptions DISCOVER AUSTRALIA and RED KANGAROO are also included in the design.

The Kookaburra is one of Australia’s most recognisable birds, whose white-coloured plumage and brown facial stripe is distinctive as is its loud, laughing call.  The coin’s reverse depicts a Kookaburra perched on a branch among the green leaves of a gum tree and the inscriptions DISCOVER AUSTRALIA and KOOKABURRA.

The Green and Gold Bell Frog is an emerald to olive green coloured amphibian that often displays brown and gold markings.  The coin's reverse depicts a Green and Gold Bell Frog resting on green reeds and includes the inscriptions DISCOVER AUSTRALIA and GREEN & GOLD BELL FROG.

The Goanna is known as one of Australia’s largest monitor lizards.  These reptiles are usually dark grey to black in colour and display cream or yellow scales, which form bands and spots, in contrast.  Goannas are found throughout most of Australia in a variety of environments.  The coin's reverse depicts a Goanna resting on yellow desert sand.  The inscriptions DISCOVER AUSTRALIA and GOANNA are also included in the design.

The Whale Shark is the world’s largest fish, yet despite its formidable size, is considered harmless.  Found in coastal waters and the lagoons of coral atolls, this majestic creature was not discovered until 1828 although the species is actually millions of years old.  The Whale Shark coin's reverse depicts a Whale Shark swimming through blue ocean waters. The inscriptions DISCOVER AUSTRALIA and WHALE SHARK are also included in the design. 
All the designs also include The Perth Mint’s famous ‘P’ mintmark.

Extremely Limited Mintage

The Perth Mint will release no more than 1,000 of each of these 1/10oz platinum proof coins.

Australian Legal Tender

Issued as Australian legal tender, each coin's obverse bears the Ian Rank-Broadley effigy of Her Majesty Queen Elizabeth II, the year-date and the monetary denomination.

Numbered Certificates of Authenticity

The set is accompanied by a numbered Certificate of Authenticity for each coin.

Presentation Display Packaging

The iconic, themed display packaging includes a coloured shipper and display case with a classic timber lid.