Newmont completes Newcrest takeover

Newmont has completed the acquisition of Newcrest Mining to create the world’s leading gold company with robust copper production. The transaction strengthens Newmont’s position as a mining leader through the combination of high-quality operations, projects and reserves concentrated in low-risk jurisdictions, including 10 Tier 1 operations to support decades of safe, profitable and responsible gold and copper production. “Today marks…

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Newmont puts off decision on Yanacocha spend

Newmont is planning to undertake cost-cutting efforts in 2024, and as such has opted to defer its decision of a full funds investment in the expansion of its Yanacocha sulphides expansion in Peru for “at least” two years. Officially, the producer said it wants to “advance…[a] portfolio optimization strategy” that will prioritize other opportunities and support a disciplined capital allocation…

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Workers back at Newmont’s Ahafo South following fire

Miners and staff were all reported safe and are now back to work once again after a fire incident last week at Newmont’s Ahafo South mine laboratory in western Ghana. According to local media, the 9 April damaged equipment but did not injure anyone. The fire was brought under control without further issues. An investigation into the cause is still…

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Newmont proposes Newcrest US$16.9 billion takeover

In a move to combine two of the top senior gold producers, U.S.-based Newmont has submitted a non-binding proposal to acquire 100% of the issued share capital of Australian peer Newcrest Mining by way of a scheme of arrangement. If successful, it would be the largest mining takeover and the third-largest corporate buyout in Australian history, according to Refinitiv data.…

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Newmont puts Yanacocha on ice

Gold miner Newmont has opted to put an investment decision on hold for its Yanacocha sulphides project in Peru, part of its planned expansion of the mine to extend its lifespan beyond 2040. The company said it will now make its full-funds decision on the project during the second half of 2024, citing the market as well as “the continued…

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