Archive | Newmont

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

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)

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)

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)

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)

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 →

Joining forces: What does the Newmont-Barrick Gold mega merger mean for Nevada’s mining future? – by Rob Sabo (Northern Nevada Business View – August 26, 2019)

Northern Nevada Business View

ELKO, Nev. — After years of discussion, Nevada’s two largest mining companies struck a deal this summer to join forces and combine operations in the world’s largest gold-producing complex.

The joint venture between Barrick Gold Corporation and Newmont Goldcorp Corporation ushers in a new era in Nevada hard rock mining. Barrick owns and operates 61.5 percent of the newly formed Nevada Gold Mines, while Newmont owns 38.5 percent of the company. By sharing assets and access to each other’s facilities, Nevada Gold Mines expects to save close to a half-billion a year.

NGM Executive Managing Director Greg Walker, who started with Barrick in 2002, has seen his share of failed merger discussions over the years. Just this year, Barrick tendered an $18 billion stock offer to acquire Newmont outright. Continue Reading →

Deals by foreign buyers near $40-billion, set to eclipse last year’s pace – by Jeffrey Jones (Globe and Mail – August 6, 2019)

https://www.theglobeandmail.com/

Acquisitions in Canada by foreign buyers are already approaching the dollar value for all of 2018, as confidence in the economy trumps rising global trade tension and a dearth of deals in the oil patch.

Deals announced in the first half of 2019 topped $39.3-billion, only slightly less than the $40.2-billion worth of deals in all of 2018, a year considered to have been brisk for deal-making by foreigners, according to figures from the law firm Torys LLP.

Based on announced transactions and those the firm knows are being discussed, it is shaping up to be a strong year, though it is too early to predict a record, said Cornell Wright, co-head of Torys’ mergers and acquisitions practice. Continue Reading →

Mega-merger hurdles at Newmont Goldcorp hit gold miner’s profit – by Danielle Bochove (Bloomberg News – July 25, 2019)

https://www.bnnbloomberg.ca/

The world’s largest gold miner is experiencing some growing pains as it tries to integrate a slew of new assets from its recently completed mega-merger.

Newmont Goldcorp Corp.’s () shares fell after it posted an adjusted profit that was about half what analysts were expecting in a messy second quarter that included its merger with Goldcorp Inc. and the start of a new joint venture with rival Barrick Gold Corp. () in Nevada.

Although there have been “no surprises” in the acquired Goldcorp assets, underinvestment has been an issue throughout the portfolio, Newmont President Tom Palmer told analysts Thursday on an earnings call. “There was not the work done on exploration, there wasn’t the work done on development, and that’s absolutely fundamental in either an open pit or an underground mine.” Continue Reading →

Barrick and Newmont Goldcorp launch Nevada Gold Mines (Mining Technology – July 2, 2019)

https://www.mining-technology.com/

Barrick Gold and Newmont Goldcorp have concluded a transaction establishing Nevada Gold Mines. Canadian mining company Barrick Gold will own 61.5% of the new company, while Newmont takes the remaining 38.5%.

The joint venture (JV) assets in North-eastern Nevada comprise ten underground and 12 open pit mines, two autoclave facilities and two roasting facilities. It also consists of four oxide mills, a flotation plant and five heap leach facilities.

Barrick Gold president and CEO Mark Bristow said: “The establishment of Nevada Gold Mines was designed to combine arguably the industry’s best assets and people in order to deliver the best value to stakeholders. Continue Reading →

Gold giants battling to lure back investors who fled industry – by Danielle Bochove and Thomas Biesheuvel (Bloomberg/Toronto Star – June 9, 2019)

https://www.thestar.com/

What’s better than GOLD? In the wake of two mega-mergers that have reset the gold industry, one small detail has delighted Mark Bristow, Barrick Gold Corp.’s chief executive officer: his company’s ability to secure the rights to trade its stock under the ticker GOLD in New York.

Barrick and newly merged Newmont Goldcorp Corp. are in a race to lure back generalist investors who fled the gold sector years ago. While Newmont has the advantage of size — it’s bigger by market capitalization and production — having the ticker GOLD certainly can’t hurt in the fight for brand recognition.

“If you want to be relevant in this world, you’ve got to attract a broader base of investors,” Bristow said in a phone interview Thursday. “A combination of the GOLD, and revitalizing the Barrick brand itself, is an exciting thing.” Continue Reading →

Nevada’s Mackay, Newmont partnership 50 years old – by Adella Harding (Elko Daily Free Press – June 6, 2019)

https://elkodaily.com/

A partnership between the Mackay School of Earth Sciences and Engineering at the University of Nevada, Reno and Newmont Goldcorp is marking its golden anniversary of helping students, the Mackay School, the mining industry and Newmont recruitment all these years.

“Both Newmont and Mackay get something out of the partnership,” said Melissa Harmon, general manager of Newmont’s Twin Creeks Mine in Humboldt County.

Newmont has donated an estimated $8 million to the Mackay School and UNR since 1969, Harmon said. Newmont also was the first mining company to reach the philanthropist level in 2011 for giving $5 million to the university. Continue Reading →

UPDATE 2-Newmont Goldcorp suspends Peñasquito mine operations in Mexico due to blockade – by Nichola Saminather (Reuters U.K. – April 29, 2019)

https://uk.reuters.com/

April 29 (Reuters) – Newmont Goldcorp Corp said on Monday it plans to suspend operations temporarily at its Peñasquito mine in Mexico due to a blockade by a trucking contractor and some members of the Cedros community.

The open-pit mine, in northern Zacatecas state, produced 272,000 ounces of gold in 2018, company figures show. It accounts for about 17 percent of Newmont Goldcorp’s net asset value, according to Scotiabank.

The blockade began on March 27, the company said in a statement, adding that it was working with Mexican authorities to resolve the issue. Continue Reading →

Newmont beats expectations, but mum on Goldcorp results – by Niall McGee (Globe and Mail – April 26, 2019)

https://www.theglobeandmail.com/

Newmont Goldcorp Corp. has topped earnings expectations just days after taking the crown as the world’s biggest gold company, but mine disruptions are leaving analysts with some unanswered questions.

Last week, Colorado-based Newmont Goldcorp – formerly Newmont Mining Corp. – closed its US$10-billion acquisition of Vancouver-based Goldcorp Inc. The deal vaulted Newmont Goldcorp ahead of Toronto-based Barrick Gold Corp., making it the biggest gold miner by production, value and reserves.

As part of the deal, Newmont Goldcorp acquired a suite of new mines and development projects across North and South America. Newmont Goldcorp previously said the combination should lead to cost savings of US$365-million a year. Continue Reading →

What could Newmont Mining’s $14b merger with Goldcorp mean for Australian gold mines? – by Matt Brann (Australian Broadcasting Corporation – April 24, 2019)

 

https://www.abc.net.au/

Two of the world’s biggest gold mining companies have merged in a $US10 billion ($14.2 billion) deal, which some analysts are tipping will have ramifications for gold mines in Australia.

Newmont Mining has finalised its merger with the Canadian based Goldcorp to become, it said, the world’s leading gold business with an unmatched portfolio of assets, prospects and talent. In a video statement from the company now known as Newmont Goldcorp, it said, “we’re not looking to be the biggest, we’re determined to be the best”.

Newmont Goldcorp is on track to become the world’s biggest gold producer, but the ABC understands the title is currently held by Barrick-Randgold, another mega gold-mining merger which occurred earlier this year. Continue Reading →

NEWS RELEASE: Newmont and Goldcorp Successfully Create World’s Leading Gold Company (April 18, 2019)

DENVER–(BUSINESS WIRE)–Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont Goldcorp or the Company) today announced the successful conclusion of its transaction combining Newmont Mining Corporation and Goldcorp Inc. to form the world’s leading gold business.

The resulting company features an unmatched portfolio of assets, prospects and talent. This portfolio includes long-life operations and profitable expansion and exploration options in some of the world’s most favorable mining jurisdictions. Newmont Goldcorp will also offer investors the highest annual dividend and the largest Reserves and Resources per share among senior gold producers.

“We’ve met our goal to become the world’s leading gold business, and we’ll maintain that position by executing our winning strategy,” said Gary J. Goldberg, Chief Executive Officer. “That strategy focuses on constantly improving safety and efficiency at our current operations while we continue to invest in expansions and exploration to fuel next generation production. An equally important part of that strategy is to meet stakeholders’ expectations by continuing to lead the sector in value creation and sustainability performance.” Continue Reading →