NEWCREST Mining has unveiled a whopping $6 billion in writedowns, has cut 250 Australian jobs, will close its Brisbane office and will not pay a final dividend. In a dramatic announcement -- finally addressing shareholders after a slew of broker downgrades this week -- Newcrest set the scene for one of the nation's biggest corporate losses, when between $5bn and $6bn of writedowns on mines in Papua New Guinea, Australia and Africa are taken in its August full-year results report. The announcement accelerated a recent hammering of Newcrest's share price, sending the stock down $1.01, or 7.6 per cent, to a nine-year low of $12.35.