adelaidenewcrest mining ltd said it will progress to feasibility stage studies on four growth projects the mining company expects will over the next decade materially cut group costs lift copper output and sustain its production of gold the australiabased miner on tuesday said its board has approved feasibility studies for planned projects at the red chris mine in canada the havieron deposit in western australia its lihir mine in papua new guinea and its cadia operation in australias new south wales state newcrest said prefeasibility studies or pfs on the four projects estimated an internal rate of return of 16 or higher a pfs at the lihir operation estimated a us179million investment could have a rate of return around 37 and support production above one million ounces a year for at least a decade from its 2024 fiscal year newcrest said the projects could contribute to a morethan 50 cut in newcrests socalled allin sustaining costs which measure the full cost of operating a gold mine by the end of this decade the company said newcrest said the projects could also support gold production around 2 million troy ounces a year until at least fiscal year 2030 while boosting copper output to more than 175000 metric tons in fiscal 2030 up an increase of 37 on fiscal 2021 levels the projections generated by the pfs studies for these projects indicate compelling rates of return and a material improvement in operating margin and cash flow said chief executive sandeep biswas he highlighted the projected lift in copper production as a positive saying newcrest views the industrial metal as having a strong growth outlook as the world shifts to a lower carbon economy the projected growth profile of our copper production is particularly exciting and would allow us not just to advance our own sustainability objectives but to participate in the potential opportunities presented by a global shift to decarbonization mr biswas said in a statement newcrest plans to fund the projects from cash flow and existing liquidity and its dividend policy remains unchanged the company said