Colorado-based gold miner Newmont (NYSE: NEM, TSX: NGT) has reported gold mineral reserves of 100.2 million attributable ounces for 2019, the largest ever in company history. This represents a 53% increase over the 65.4 million ounces recorded in 2018 following the completion of two major transactions and through ongoing exploration success.
Last year, Newmont added almost 50 million ounces of gold reserves through the acquisition of Goldcorp, the formation of the Nevada Gold Mines joint venture and the continuation of its exploration program, solidifying the company as the world’s largest gold miner.
According to President and CEO Tom Palmer, the company’s reserve and resource base will be able to support stable production of more than six million ounces per annum for decades to come.
The reported figures include Red Lake and the company’s 50% interest in Kalgoorlie Consolidated Gold Mines (KCGM). Newmont successfully completed the sale of KCGM in January and expects to close the divestment of Red Lake in the first quarter of 2020.
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