Newmont Goldcorp Corporation
Newmont Goldcorp Corporation
Full text is available to Level 2 subscribers only
Subscribe to Mining Business Media
Full access to Mining Business Media's unique blend of global mining sector news and commentary is available by subscription only.
$A275.00 per year*
(*up to 10 users)
GST included in Australia
Direct debit/cheque/credit card:
Click here
Subscription inquiries, email subscribe@miningbusiness.net or call 61+413 772 044.
Related Content
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.
Global gold major Newmont has awarded international technology company ABB a $A24M contract to provide mine hoist systems to increase production at the Tanami underground gold mine in Australia’s Northern Territory.
Lower gold production and $US195M of COVID-19 related care and maintenance costs have helped halve global miner Newmont’s June 2020 qtr (Q2 20) net income to $412M from Q1 20’s $837M, with adjusted net income down to $261M from $326M.
Attributable gold production was down to $1.26Moz from 1.48Moz.
The ramifications of the global COVID-19 pandemic has cut gold major Newmont’s Q2 20 net income in half on increased costs and lower production
Endeavour Mining has completed its mutually agreed, $C1B ($US690.7M), all-share takeover bid for fellow Canadian miner SEMAFO to create the biggest gold producer in Burkina Faso and Ivory Coast.
The amalgamation creates a leading West African gold company with 6 operations, including 4 cornerstone mines, with combined FY/CY2020 year estimated output of 1Moz+, making it bigger than Newmont Goldcorp and Barrick in West Africa.
Australia’s gold output for the Mar 2020 qtr has fallen 12% to 77t on Dec 2019 with many operators taking advantage of higher prices in 2019 and early 2020.
Gains on the sales of its Kalgoorlie Consolidated Gold Mines, Continental Gold and Red Lake interests, higher production from the acquired Goldcorp assets and higher realised gold prices have lifted gold giant Newmont’s March qtr (Q1) net income from continuing operations to $US837M, from $113M in the previous corresponding period.
Gold, silver and copper production from Evolution Mining’s 6 Australian operations fell in the Mar 2020 qtr (Q3 20) -- gold to 165,502oz from Q2 20’s 170,890oz, silver to 118,224oz from 137,262oz and copper to 4,832t from 5,572t.
However, C1 cash costs also eased to $A767oz from $778oz, AISC to $991oz from $1,069oz and all-in-costs to $1,069oz from $1,584oz. Mine operating cash flow increased 10% qtr-on-qtr (QoQ) to $257.4M, with net mine cash flow 11% better QoQ to $159.7M and free cash flow jumping 33% QoQ to $111.5M.