Australia's Newcrest says expects impairment of up to A$2.5 bln
SYDNEY, July 24
SYDNEY, July 24 (Reuters) - Australia's Newcrest Mining Ltd warned on Thursday it expects to take post-tax impairments of up A$2.5 billion ($2.36 billion) in fiscal 2014 related to its flagship Lihir gold mine in Papua New Guinea and other mines in Australia and Ivory Coast.
Although an impairment has no impact on cash flow, a reduction in book values in the range of A$1.5 billion to A$2.5 billion is estimated to adversely impact gearing by between three and five percent, Newcrest said.
The latest impairment is in addition to the A$47 million ($44.35 million) after-tax impairment of west African exploration assets included in Newcrest's first-half results.
Newcrest is scheduled to release its 2014 financial results on Aug. 18.