Melbourne-based Newcrest Mining has been suspended from trading following the company's announcement that it will close out its forward sales of gold.
Australia's leading gold miner, Newcrest says it wants to raise A$2bn of shares to close its existing gold hedgebook, repay its gold loan and repay the Company's USD bilateral loan facilities.
Newcrest Mining says the closures will improve the credit profile of the company.
Other gold miners had made similar moves including Newmont Mining.
By staff writer
