Newcrest Mining Ltd., Australia´s largest gold mining company, said first-half profit more than doubled after the purchase of Lihir Gold Ltd. and a surge in prices. Net income was A$438 million ($440 million) in the six months ended Dec. 31, compared with A$176 million a year earlier, the Melbourne-based company said today in a statement. This was less than the A$457 million mean of four analyst estimates surveyed by Bloomberg. Gold recorded a 10th straight annual gain in 2010 as concern about rising inflation and currency debasement spurred investors to seek the metal as a store of value. Sales from Newcrest´s mines in Australia, Indonesia, Papua New Guinea and West Africa rose 66 percent to A$1.97 billion. Greg Robinson, Newcrest´s executive director finance, will succeed retiring Chief Executive Officer Ian Smith from July 1, the company said in a separate statement.
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