Newcrest comfortable with gearing above 15 pct in next few years

MELBOURNE, Feb 14 (Reuters) - Newcrest Mining would be comfortable holding its gearing level above its long term target of 15 percent over the next few years, its chief executive said on Friday, after the firm reported gearing stood at 30.5 percent as of Dec 31.

"On gearing, we still have a target of 15 percent," Chief Executive Greg Robinson told analysts at a briefing after Australia's top gold miner reported its half-year results.

"That is a long term target for us and I think the board is comfortable with that priority of cashflow -- finish Cadia East and then apply cash to debt reduction and, subject to prices and operating conditions, that has a medium-term benefit in reducing that gearing," he said, describing medium term as meaning "in the next few years".

(Reporting by Sonali Paul; Editing by Ed Davies)

((Sonali.Paul@thomsonreuters.com)(+61 3 9286 1419)(Reuters Messaging: sonali.paul.thomsonreuters.com@reuters.net))

Keywords: AUSTRALIA NEWCREST/DEBT