NCM

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Newcrest Mining Limited is engaged in the exploration, development, mining and the sale of gold and copper concentrates. The Company's activities include its operations in five mines: Cadia Hill, Ridgeway, Toguraci, Telfer and Cracow. The Cracow Mining Joint Venture is an unincorporated joint venture operation, the principal activity of which is the production of gold and mineral exploration. Cracow commenced production in December 2005. On March 21, 2006, the Company disposed of its 22.22% interest in the Boddington joint venture.

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