Archive | Newmont

Newmont to buy GT Gold for $311 million – by Cecilia Jamasmie (Mining.com – March 10, 2021)

March 10, 2021 in British Columbia’s Golden Triangle Mining District, Canadian Media Resource Articles, Gold and Silver, Junior Exploration Sector, Newmont

https://www.mining.com/

Newmont (NYSE: NEM) (TSX: NGT), the world’s No. 1 gold miner, is acquiring all the shares it doesn’t already own in Canadian explorer GT Gold (TSX-V: GTT) in a cash deal valued at about $311 million (C$393m).

The transaction will see the US mining giant buying the remaining 85.1% of common shares of GT Gold it doesn’t already have for C$3.25/share in cash. The figure represents a 38% premium to the 20-day volume-weighted average price of GT Gold’s shares on the Toronto Stock Exchange as of March 9.

GT Gold’s primary asset is the wholly-owned, 47.5K hectare Tatogga gold-copper project, located in the Traditional Territory of the Tahltan Nation, about 14km west of the Red Chris copper-gold mine. Continue Reading →

Gold miner launches initiative to advance relationships with Indigenous Peoples – by Staff (Northern Ontario Business – February 3, 2021)

February 3, 2021 in Aboriginal and Inuit Mining and Oil/Gas, Canadian Regional Media and Web Publications, Gold and Silver, Newmont, Ontario Mining

https://www.northernontariobusiness.com/

Newmont says Vancouver-based centre will aim to improve relations across company, mining industry

Gold miner Newmont has launched the Global Centre for Indigenous Community Relations to advance relationships between mining companies and Indigenous Peoples within the company and across the industry.

In a Feb. 2 news release, the company said the Vancouver-based centre would act as a way to “promote awareness, education and engagement between industry and Indigenous Peoples.”

“Newmont recognizes the special connection between Indigenous Peoples and the land, and that mining can affect this connection in some challenging ways,” said Tom Palmer, Newmont’s president and CEO, in the release. Continue Reading →

World’s top gold miner sets new targets to cut carbon emissions – by Steven Frank (Bloomberg News – November 12, 2020)

November 16, 2020 in Gold and Silver, International Media Resource Articles, Newmont

https://www.bnnbloomberg.ca/

The world’s largest gold miner has just set new targets to cut emissions by 2030 and said it wants to go carbon neutral two decades later.

But while Newmont Corp.’s plan is more ambitious than that of other mining companies including BHP Group and Barrick Gold Corp., it doesn’t fully address the elephant in the room for the global industry: the so-called Scope 3 emissions, which are generated by its supply chain and customer use.

The Greenwood Village, Colorado-based company plans to cut emissions from its operations and power generation 30 per cent by 2030 from 2018 levels, with the target for Scope 3 set at 15 per cent, according to a statement. It also wants to go carbon neutral by 2050, but provides little detail on how that will be achieved. Continue Reading →

Newmont CEO Sees Gold ‘Elevated,’ But Will Keep Plans Grounded – by Steven Frank (Bloomberg News – September 16, 2020)

September 18, 2020 in Gold and Silver, International Media Resource Articles, Nevada Mining, Newmont

https://www.bnnbloomberg.ca/

(Bloomberg) — The world’s biggest gold producer sees the price of the precious metal remaining “elevated” as governments continue pandemic stimulus spending, but don’t expect that to change Newmont Corp.’s focus on fiscal “discipline” any time soon.

Gold skyrocketed to record heights above $2,000 an ounce in August, helping lift miners’ cash flow, stock prices and likely the hopes of shareholders expecting higher returns. Spot gold has since dipped a bit, but the haven metal is still trading in record territory above $1,900.

“There are a lot of signals that point to gold staying at these elevated levels — with I think a lot of volatility around it — for some time to come,” Newmont Chief Executive Officer Tom Palmer said by phone. Continue Reading →

Brace for volatility as virus grips platinum, palladium markets: JM – by Peter Hobson (Reuters U.S. – May 18, 2020)

May 19, 2020 in International Media Resource Articles, Newmont, Nickel/Metals/ War – Geopolitical Flashpoints, Platinum Group Metals

https://www.reuters.com/

LONDON (Reuters) – Platinum and palladium markets will be tight this year as the coronavirus pandemic hammers supply and demand, materials maker Johnson Matthey said on Monday, declining to give full-year forecasts and saying prices will be erratic.

Production of the metals, used to reduce vehicle emissions, and their consumption by auto makers could fall by around one-fifth in 2020 but the course of the virus is too uncertain to give precise numbers, the company said in a report.

Temporary dislocations as the new coronavirus impacts different places at different times could have the biggest influence on prices, Rupen Raithatha, Johnson Matthey’s director of market research, said. Continue Reading →

Gold giant Newmont says metal could top US$2,000 on virus stimulus – by David Stringer (Bloomberg News – April 16, 2020)

April 16, 2020 in Gold and Silver, International Media Resource Articles, Newmont

https://www.bnnbloomberg.ca/

Gold could top US$2,000 an ounce and will remain elevated over the next five years as the global economy contends with the impact of the coronavirus pandemic, according to the head of Newmont Corp., the world’s top miner of the precious metal.

“The level of stimulus globally that’s going into the economy certainly underpins higher gold prices for the longer term, and I don’t think that stimulus has stopped yet,” Chief Executive Officer Tom Palmer said Thursday in a phone interview from Perth. “You could certainly see scenarios that have it pushing north of US$2,000.”

Spot bullion is trading around US$1,720 — close to a more than seven-year high — and is forecast by numerous banks to extend gains as the impact of the virus pushes economies toward recession and prompts action from central banks. Continue Reading →

COVID-19 puts Musselwhite Mine in mothballs: Newmont places four global mine operations on care and maintenance – by Staff (Northern Ontario Business – March 23, 2020)

March 24, 2020 in Canadian Regional Media and Web Publications, Gold and Silver, Newmont, Ontario Mining

https://www.northernontariobusiness.com/

Musselwhite Mine in northwestern Ontario is one of four mines Newmont has chosen to temporarily suspending operations due to the COVID-19 outbreak.

The remote, fly-in/fly-out operation is being placed in care and maintenance to protect nearby First Nations from the spread of the virus and also to adhere to government-mandated travel restrictions in Canada and South America.

Musselwhite is an underground gold mine, 500 kilometres north of Thunder Bay. The Newmont mines being temporarily mothballed are: Eléonore in Quebec, Cerro Negro in Argentina, and Yanacocha in Peru. Continue Reading →

Newmont’s gold reserves surpass 100moz, largest in company history – by Jackson Chen (Mining.com – February 17, 2020)

February 19, 2020 in Canadian Media Resource Articles, Gold and Silver, Newmont

https://www.mining.com/

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. Continue Reading →

FP Dealmakers: Inside Barrick’s attempt to gatecrash Newmont and Goldcorp’s party – by Gabriel Friedman (Financial Post – January 30, 2020)

January 30, 2020 in Barrick Gold Corporation, Canada Mining, Canadian Media Resource Articles, Gold and Silver, Newmont

https://business.financialpost.com/

FP Dealmakers: One question that remains for 2020, and beyond is what effect the expected consolidation will have on Canada’s mining sector

All through the holidays, Rick McCreary kept disappearing from his family, hopping on conference calls for long stretches without explaining what was going on. So it goes for a deputy chair of investment banking at TD Securities when a major merger is in the works.

In this case, it was between December 2018 and January 2019, and McCreary was advising Vancouver’s Goldcorp Inc. on its US$10-billion acquisition by Colorado-based Newmont Mining Inc., one that triggered a wave of other deals, and only closed after a series of bumps almost derailed it entirely.

“Honestly, it was the most stressful one I’ve worked on,” said McCreary. For McCreary, it carried a strong emotional weight because of the long and tangled history of the companies and people who worked on it. Continue Reading →

America’s Gold Giant Bets on Dividends, Improved Mines to Hold Off Rival – by Alistair MacDonald (Wall Street Journal – January 27, 2020)

January 27, 2020 in Barrick Gold Corporation, Gold and Silver, International Media Resource Articles, Newmont

https://www.wsj.com/

Newmont’s push to attract more investors comes after Barrick Gold made inroads with its $6 billion acquisition

Newmont Corp.’s lead over bitter rival Barrick Gold Corp. has shrunk after both made big acquisitions. Now the world’s biggest gold producer is betting high dividends and its new mines will drive future stock growth.

Newmont, America’s largest miner, is trying to improve operations at some of the gold mines that it acquired as part of its $10 billion deal for Goldcorp Inc. The Denver-based company says the problems have been fixed and is betting that sharing more of its profits with shareholders will attract generalists back to a sector they have avoided for years.

Barrick Gold, meanwhile, has seen more immediate returns from its $6 billion purchase of South Africa’s Randgold Resources Ltd., and shares of the Canadian miner have outperformed Newmont over the past year. However, some investors—including its largest one—have raised concerns about the company talking about bulking up its copper holdings. Continue Reading →

Newmont’s new Borden Mine futuristic – by Adella Harding (Elko Daily Free Press – December 4, 2019)

December 5, 2019 in Gold and Silver, International Media Resource Articles, Newmont, Ontario Mining

https://elkodaily.com/

Newmont Goldcorp’s new Borden Mine in Canada has the latest in digital mining technologies, low-carbon energy vehicles, safety controls and processes for underground operations. The company calls Borden the “mine of the future.”

Newmont Goldcorp’s president and chief executive officer, Tom Palmer, said that “Borden’s electric underground fleet will eliminate diesel particulate matter from the underground environment and lower greenhouse gas emissions. This will help reduce energy costs, protect employee health and minimize impacts to the environment.”

Borden has a fleet of roughly 35 electric vehicles “that you’d expect in an underground hard-rock mine, including bolters, tractors, personnel carriers, jumbos, loaders, a grader and a range of utility vehicles,” said Omar Jabara, group executive for public relations and executive communications for Colorado-based Newmont. Continue Reading →

Barrick misses quarterly gold output estimates on Tanzania curbs (Reuters Canada – October 17, 2019)

October 18, 2019 in Africa Mining, Barrick Gold Corporation, Canada Mining, Canadian Media Resource Articles, Gold and Silver, Nevada Mining, Newmont

https://ca.reuters.com/

(Reuters) – Barrick Gold Corp (ABX.TO), (GOLD.N) fell short of analysts’ estimates for third-quarter gold production on Thursday, as lower output at its North Mara mine in Tanzania offset gains from its Randgold buy and the Nevada Gold Mines joint venture.

Operations at the Canadian company’s North Mara mine were hit by tax and environmental disputes, and restrictions were lifted in September after Barrick addressed concerns about seepage at the project’s tailings storage facility.

North Mara was operated by Acacia Mining and Barrick took full control of the miner after a British court approved its $1.2 billion takeover. Continue Reading →

Newmont’s New CEO Plans to Dispense More Discipline Than Cash – by Vinicy Chan and Steven Frank (Bloomberg News – October 2, 2019)

October 3, 2019 in Canada Mining, Gold and Silver, International Media Resource Articles, Newmont, United States Mining

https://www.bloomberg.com/

(Bloomberg) — Tom Palmer took the helm at the world’s largest gold miner shortly after bullion had its longest streak of quarterly gains since 2011. Now investors are looking to partake of that windfall.

But before shareholders get their piece of the pie, the new chief executive officer at Newmont Goldcorp Corp. will have to face the challenge of melding the assets from the recently completed mega-merger with Goldcorp Inc.

Newmont’s shares have trailed its peers, even with gold’s meteoric rise that took the metal to a six-year high of $1,557.11 an ounce last month. The stock’s rally this year is just less than a third of the pace of gains posted by its closest rival Barrick Gold Corp., which also sealed a massive merger deal. Continue Reading →

Newmont’s Incoming CEO Says No ‘Fire Sale’ Coming for Assets – by Vinicy Chan and Millie Munshi (Bloomberg/Yahoo.com – September 17, 2019)

September 17, 2019 in Gold and Silver, International Media Resource Articles, Newmont

https://finance.yahoo.com/

(Bloomberg) — Newmont Goldcorp Corp. is ready to sit tight on asset sales, even if that means not reaching a previously announced goal of as much as $1.5 billion in divestments.

That’s according to Tom Palmer, the company’s incoming chief executive officer. The world’s largest gold producer will be focusing on optimizing its current assets and is happy overall with its portfolio, other than a previously announced sale of Red Lake in Canada, he said.

“We’re in no rush to sell anything,” Palmer said in an interview Tuesday at the Denver Gold Forum. “There will be no fire sale in Newmont Goldcorp.” Continue Reading →

Century Project, lookout nearing completion, and more updates from Porcupine Gold Mines – by Maija Hoggett (Timmins Today – September 11, 2019)

September 12, 2019 in Canadian Regional Media and Web Publications, Gold and Silver, Goldcorp Inc., Newmont, Ontario Mining, Timmins

https://www.timminstoday.com/

All-electric Borden Mine almost ready to open

From a public lookout of the open pit to the Newmont acquistion and where the Century Project is at, everything was on the discussion table for Marc Lauzier today.

Lauzier is the general manager of Newmont Goldcorp’s Porcupine Gold Mines and was the featured speaker at the Timmins Chamber of Commerce’s quarterly Inside Their Business event. Earlier this year, the $10-billion merger of Newmont Mining Corp. and Goldcorp was completed, creating a new company – Newmont Goldcorp.

The local operations involved are the Porcupine Gold Mines, which includes the Hoyle Pond underground mine and Hollinger open-pit. Borden Lake near Chapleau is opening this year and is an all-battery-electric mine. The Century project is also still in development. Continue Reading →