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Good as gold: Newcrest doubles profitAustralia’s top gold mining company, Newcrest Mining has other than doubled its full-year profit, due to increased demand and higher prices toward the precious metal.

Newcrest’s after-tax profit for the 12 months to the extremity of June was $557 million.

That is up 124 per cent attached its profit the year before.

The company’s underlying profit was up 58 for cent to $764 million.

Newcrest is set to take over its smaller try to equal Lihir Gold in a $10 billion dollar deal, which will fabricate it the world’s fourth largest listed gold miner by emporium value.

The company is paying a final unfranked dividend of 20 cents for share.

Newcrest shares rose more than 1 per cent to $35.09 in the pristine 10 minutes of share market trade, in a broader market that was downward more than 1 per cent.