‘Once-in-a-generation buy’: Newmont CEO touts stock as miner attempts to raise US$2B – by Jordan Fleguel (Bloomberg News – February 27, 2024)


The head of Newmont Corp., the world’s largest gold producer, says that his company’s current stock price is the lowest it will be for a generation as the miner attempts to consolidate its collection of top-tier assets.

The U.S.-based gold giant recently announced that it will seek to sell six mines and two other projects in order to generate US$2 billion in cash as it transitions to a portfolio of solely tier-one assets; the world’s largest and most-sought after gold mines.

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Newmont to sell six non-core assets in Canada, Australia – by Cecilia Jamasmie (Mining.com – February 22, 2024)


Newmont Corp (NYSE: NEM) said on Thursday it plans to sell six non-core assets, including its Éléonore mine in Quebec, the Musselwhite and Porcupine mines in Ontario, the Coffee project in the Yukon Territory and its 70% stake in the Havieron joint venture with Greatland Gold (LON: GGP) in Western Australia.

The world’s largest gold miner, which completed the acquisition of Newcrest Mining in November, said that proceeds from the transactions will be used to cut debt. The company, which had $8 billion in debt at the end of 2023, has set a near-term debt-reduction target of $1 billion.

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Newmont pours 8,000th gold bar at Musselwhite mine – by Cecilia Jamasmie (Mining.com – December 6, 2023)


The world’s largest gold miner, Newmont has announced another milestone at its Musselwhite mine, in Ontario – 5 million ounces of precious metal production

The world’s largest gold miner, Newmont (NYSE: NEM; TSX: NGT), has announced another milestone at its Musselwhite mine, in Ontario, where it has poured the 8,000th gold doré bar since the operation started with commercial production in 1997.

The mine, one of the world’s largest producers of the metal in Canada and globally, has churned out more than five-million ounces of gold in the last 25 years.

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Newmont Prepares to Sell Mines as Newcrest Acquisition Closes – by Jacob Lorinc (Bloomberg News – November 6, 2023)


(Bloomberg) — Newmont Corp., the world’s top gold producer, will forge ahead on a plan to find $2 billion in cash including through mine sales and project divestments after closing the largest takeover in the mining industry this year.

Denver-based Newmont closed its roughly $15 billion acquisition of Newcrest Mining Ltd. on Monday, ending a nearly year-long effort to buy the Australian gold miner.

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Newmont set to become a major player in Canadian mining with $19.5 billion deal for Newcrest – by Naimul Karim (Financial Post – May 15, 2023)


B.C.’s Golden Triangle will be key for world’s largest gold producer

British Columbia is set to become a key mining destination for Newmont Corp., as the world’s largest gold producer inked an agreement on May 15 to take over Australia’s largest gold company, Newcrest Mining Ltd., for about US$19.5 billion.

The agreement, which is subject to shareholder approval, will increase Newmont’s presence in B.C.’s “Golden Triangle,” the loosely defined region in northwestern B.C. that has been a favourite of prospectors seeking gold and copper since the 19th century. Nearly 150 mines have operated in the region over that time.

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Newmont plumps final bid for Australia’s Newcrest to $19.5 bln – by Melanie Burton (Reuters – April 11, 2023)


MELBOURNE, April 11 (Reuters) – Newmont Corp (NEM.N) laid down a best and final offer for Australia’s Newcrest Mining Ltd (NCM.AX) on Tuesday at A$29.4 billion ($19.5 billion) to close a deal that would extend Newmont’s lead as the world’s biggest gold producer.

If successful, the deal would lift Newmont’s gold output to nearly double its nearest rival Barrick Gold Corp (ABX.TO). The merger is set to be the third-largest deal ever involving an Australian company and the third-largest globally in 2023, according to data from Refinitiv and Reuters calculations.

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Newmont Gets Newcrest Data Access in Gold Takeover Tussle – by Jacob Lorinc, Yvonne Yue Li and Harry Brumpton (Bloomberg News – March 22, 2023)


(Bloomberg) — Newmont Corp. has gained partial access to the corporate books of Australian rival Newcrest Mining Ltd., according to people familiar with the matter, a sign that the US company could make a revised offer to seal what would be the world’s largest gold takeover.

Newmont is undertaking limited due diligence on Newcrest weeks after management of the Melbourne-based miner dismissed a $17 billion proposal from the world’s top bullion producer, according to people who asked not to be named because the information isn’t public.

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Newcrest Rejects Newmont’s $17 Billion Takeover Offer – by James Fernyhough (Bloomberg News – February 15, 2023)


(Bloomberg) — Newcrest Mining Ltd. rejected an initial $17 billion takeover bid by US rival Newmont Corp., with the Australian miner’s interim CEO saying the company was “worth a lot more.”

It did offer some hope to its suitor, however, by indicating it’s prepared to provide access to its books on a non-exclusive basis. The all-shares deal would have been the largest globally this year and created the world’s biggest gold miner.

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Mammoth gold miner in the making after Newmont’s $17bn bid for Newcrest – by Cecilia Jamasmie (Mining.com – February 6, 2023)


Newmont Mining (NYSE: NEM)(TSX: NGT), the world’s largest gold producer, is seeking to build a global gold superpower by approaching Australia’s no.1 miner of the yellow metal, Newcrest Mining (ASX, TSX: NCM), with a $17 billion takeover offer.

If successful, the deal would be one of the biggest in Australian history, though initial feedback from analysts and shareholders suggests that Newmont will have to improve its bid.

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NGM unlocking synergies by consolidating mines, teams and processing facilities – Bristow (Mining Weekly – September 23, 2022)


US-based Nevada Gold Mines (NGM) continues to demonstrate the impact of Barrick Gold’s strategy of combining the best assets with the best people as new projects and prospects secure its future as a high-quality, long-life operation for decades to come, says NGM chairperson Mark Bristow.

Speaking during a visit by a group of equity analysts and investors to the development of the Goldrush underground project, the openpit operations and processing facilities at Cortez, and the Third Shaft project and core shack at Turquoise Ridge, Bristow said NGM had unlocked significant synergies by consolidating mines, teams, processing facilities and landholdings.

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Workers report feeling unsafe at Nevada’s largest gold-mining corporation – by Nick Bowlin and Daniel Rothberg (High Country News – August 15, 2022)


In 2019, Barrick Gold Corp and Newmont formed a mega-company that would be managed by Barrick’s executives. The new company, Nevada Gold Mines, now accounts for about 75% of the state’s gold production.

Earlier this year, High Country News and The Nevada Independent published an investigation into Nevada Gold Mines’ outsized influence in northeastern Nevada. With about 7,000 employees and 4,000 contractors, Nevada Gold Mines dominates the economy of that part of the state, operating with enormous influence and little competition.

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Gold RRS 2022 – Newmont dominates gold reserves replacement – by Robert Anders (SP Global – August 10, 2022)


Colorado-based Newmont Corp. reclaimed the title of world’s largest gold producer in 2018 as rival and partner Barrick Gold Corp.’s output fell by over 800,000 ounces. Following Newmont’s $10.01 billion acquisition of Goldcorp Inc. in 2019, its lead over Barrick grew to more than 1.5 million ounces in 2021, despite Barrick’s acquisition of Randgold Resources in January 2019.

Our analysis of Newmont’s strategies is based on a detailed compilation of its activities over the 2012-21 period, part of the Strategies for Gold Reserves Replacement study, which includes analysis of the world’s top five gold producers in 2021.

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Newmont completes acquisition of GT Gold – by Cecilia Jamasmie (Mining.com – May 17, 2021)


Newmont (NYSE: NEM) (TSX: NGT), the world’s No. 1 gold miner, completed on Monday the acquisition of GT Gold, after it grabbed the remaining 85.1% of common shares of the Canadian explorer it did not already own.

The C$393 million ($325m) cash deal, first announced in March, gives the US-based gold giant the Tatogga gold-copper project, located in the Traditional Territory of the Tahltan Nation.

“With the acquisition of GT Gold and the Tatogga project in the highly sought-after Golden Triangle district of British Columbia, Canada, Newmont continues to strengthen our world-class portfolio,” Newmont president and CEO Tom Palmer said in the statement.

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Barrick matches Newmont’s emissions reduction target – by Ngaire McDiarmid (Mining Journal – April 14, 2021)


It follows fellow gold major Newmont announcing in November “industry-leading climate targets of 30% reduction in greenhouse gas (GHG) emissions by 2030, with an ultimate goal of achieving net zero carbon emissions by 2050”.

Barrick unveiled its 2020 sustainability report last week and president and CEO Mark Bristow conducted a virtual presentation to investors yesterday on sustainability, which the miner said was “the first of its kind for Barrick”.

“A standout achievement has been our progress with regards to climate change,” Bristow said during the presentation.

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


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.

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