GasNet said the expansion of its unregulated pipeline assets, specifically from the extension of its Telfer natural gas pipeline that serves Newcrest Mining's gold mine in Western Australia, would contribute to future earnings growth. GasNet aims to extend the pipeline to connect with Indian miner Birla Nifty's copper mine 40 kilometres away. The start of operations at Telfer and the booking of a tax benefit of $3.7 million relating to previously unrecognised tax losses allowed GasNet to deliver a 67 per cent increase in net profit for the six months to June, despite a slight drop in revenue and a steep decline in pre-tax profit. James Hall
