Archive | Newmont

Gold miners seek to close the gap with bullion – by Brenda Bouw (Globe and Mail – September 20, 2011)

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

VANCOUVER— The world’s top gold miners are forging ahead with expansion plans and higher dividend payments, despite worries that bullion is bound for a correction after a spectacular runup beyond $1,900 (U.S.) an ounce earlier this month.

The companies are vowing to tackle the issue of share values that lag gold prices through aggressive growth plans, rising margins and sweetened dividends, despite the challenges of rising costs and increased competition for investors.

Executives believe that the price of gold will continue to rise and that equities will soon catch up and could even surpass physical gold in returns to investors.

“I do think the equities will respond,” Barrick Gold Corp.chief executive office Aaron Regent told investors at the Denver Gold Show in Colorado Springs, Colo., on Monday. “The equities have not reflected the strong fundamentals of the underlying businesses.” Continue Reading →

Newmont President and Chief Executive Officier Robert T. O’Brien on Sustainable Gold Mining

Newmont President and CEO Robert T. O’Brien - Company PhotoThere is a New Day Dawning at Newmont and each day affords us the opportunity to renew our commitment and dedication to be an industry leader as we strive to achieve our vision of becoming The Gold Company of Choice through industry leading performance. We have reaffirmed the values that guide us as we seek the most effective ways to provide sustainable value for our employees, our communities and our shareholders by “acting with integrity, trust and respect.”

In 2007, we began to redirect the company and our business strategy. We established a new management team and implemented initiatives that will enable us to dedicate ourselves to Newmont’s core gold business, to expand our growth and exploration opportunities and to unlock the value embedded in our capital structure, as well as reduce operating costs.

Key highlights during the year included:
• Producing 5.3 million equity ounces of gold, in line with our original guidance and expectations;
• Investing significantly in our business, including more than $1 billion in new gold projects and operating efficiency initiatives;
• Eliminating our gold hedge book, which positioned Newmont as the premier un-hedged gold company, and improved our financial strength and flexibility;
Continue Reading →