Troubled Gold Miner to Face Shareholders

Executives at loss making gold miner Newcrest are likely to face shareholder anger on Friday about the company’s performance, and their pay packets.

Australia’s largest gold miner suffered a $2.2 billion loss in 2013/14, its second straight year in the red, because of a falling gold price and ongoing problems with its Lihir mine in Papua New Guinea.

Several top executives have been replaced in the past year, and chief executive Sandeep Biswas will be fronting his first annual general meeting.

But the company significantly increased the size of executive bonuses in 2013/14, due to its improved underlying performance.

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