Newmont Goldcorp Corporation
Newmont Goldcorp Corporation
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Global gold leader Newmont has awarded Lycopodium Minerals Africa the engineering and procurement management services contract worth up to $A62M for its greenfield Ahafo North project in Ghana.
Lycopodium, which has been working on Newmont projects in Ghana since 2003 including initial study and designs for Ahafo North, will undertake detailed engineering design and procurement services for the process plant and infrastructure.
Gold industry leader Newmont has further enhanced its world-class portfolio with the $US311M cash acquisition of the remaining 85.1% of GT Gold it does not already own and its advanced Tatogga Lake gold-copper exploration/development project in the Tahltan Territory of British Columbia, Canada.
Production restraints brought about by the Covid pandemic has been a major contributor to world gold industry leader Newmont’s Dec 2020 year (FY/CY 20) net income falling to $US2,666M from FY/CY 19’s $2,877M, but with adjusted net income rocketing to $2,140M from $970M.
The fall came despite revenue up 18% to $11,497M and adjusted EBITDA to $5,537M from $3,734M, with cash flow from continuing operations climbing to $4,890M from $2,876M and free cash flow to $3.588M from $1,413M.
The world’s leading gold company Newmont has exceeded its 2020 conversion target by replacing 80% of all depletion and maintaining its position with the largest gold reserves up 6Moz to 94.2Moz attributable, with measured/indicated gold resources of 69.6Moz and an inferred 31.6Moz.
(COMMENTARY)
ESG matters. The 2021 Mining & Metals survey by global law firm White & Case says the sector’s performance to the highest standards of environmental, social and governance management will be the dominant factor in retaining investor support for the mining sector.
Gold miner Agnico Eagle Mines is acquiring fellow Canadian explorer TMAC Resources via the $C286.6M ($2.20ps cash) acquisition of TMAC’s outstanding common shares, a deal that is up $0.45ps on the $1.75ps offered by Chinese company Shandong Gold Mining and rejected by Canadian authorities over concerns about a Chinese state-owned entity operating in the country's sensitive Arctic region.
The success of global gold major Newmont’s continuing fight back from the effects of the COVID-19 virus earlier this year have been underpinned by Sept 2020 qtr (Q3 20) net income up to $US611M from Q2 20’s $412M on attributable gold production up to 1.54Moz from 1.26Moz.
The two miners about to combine as Australia’s second largest gold producer have brought forward a $A600M expansion of their flagship asset, the Kalgoorlie Super Pit, after gaining state environmental approval.
Northern Star Resources and Saracen Mineral Holdings' $16B merger will link assets in Australia and North America, and bring Super Pit operator Kalgoorlie Consolidated Gold Mines into single company ownership for the first time in its 125-year history.
$C750M market cap Canadian Novo Resources has sealed its $A6.1M deal to buy 50% of Western Australia-based GBM Resources’ Malmsbury Gold Project in the prolific Victoria, Australia, goldfields.
Novo’s exercise of its purchase option, via the issue of 1.57M Novo shares, includes the right to earn an additional 10% by spending another $5M on exploration over 4-years.
World leading gold company and copper-silver-zinc-lead producer Newmont has done a deal to sell a portfolio of 11 royalties to Maverix Metals for $US90M consisting of $15M cash, 12M Maverix common shares and up to $15M cash contingent on completion of certain milestones.