Gold was discovered in the area in 1896, and within a few months there were over 300 prospectors in the area. Super Pit co-owner Barrick Gold confirmed its 50 per cent share of the mine was on the market on Thursday, in a bid to continue its ongoing debt-reduction program. 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. Newmont has lowered 2019 production guidance for Kalgoorlie to 550,000 ounces to reflect the lower mining rates achieved in the first half of … "They both made big deals, big acquisitions and probably have too many assets on their books now," he said. "It's significant in a global sense as well as an Australia-sense, because the gold industry itself is going through one of those big merger and acquisition phases which is creating some truly enormous gold companies [like Newmont Goldcorp], for a very good reason that the gold industry has not been very profitable for a long time," Mr Treadgold said. In light of the COVID-19 pandemic, we want to keep everyone informed on how we are responding to this situation as an organization. Resources analyst Tim Treadgold said the merger had far reaching ramifications. The mine produces 850,000 ounces (28 tonnes) of gold per year, and employs around 550 employees directly on site. Merian - Suriname. Learn about the latest safety, people, sustainability, growth and operational excellence stories. It is a joint owner of the famous Kalgoorlie Super Pit along with Barrick, which unsuccessfully tried to takeover Newmont earlier this year. Colorado-based Newmont Goldcorp Corp. has reached an agreement to sell its 50 percent share in Kalgoorlie Consolidated Gold Mines in Australia to an … With projects in Africa, North America, South America and Australia, Newmont Goldcorp said its target was to produce 6 to 7 million ounces a year "over a decades-long time horizon". Newmont Mining has openly professed its interest in buying the other half of the Kalgoorlie super pit project from Barrick Gold that's currently up for sale to interested parties. "So I would not be surprised if the new Newmont Goldcorp looks at its assets in Australia and says, 'Do they really fit the model we've now got, or can we do better in other parts of the world, particularly closer to home in Nevada?". Newmont Goldcorp says Australia will remain a core part of its global operations even after the sale of its 50 per cent stake in the Superpit at Kalgoorlie to … "These big resource companies are looking at their remote assets and saying, 'Are we really doing that well out there? 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". This service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced. Newmont Mining Corp., the second-largest gold miner, has been interested in buying Barrick Gold Corp. ’s 50 percent stake in the Kalgoorlie Super Pit since at least 2015. Minahasa - Indonesia. Kalgoorlie Consolidated Gold Mines (KCGM) in Western Australia is a joint venture (50 per cent ownership) with Barrick Australia Pacific. Yanacocha - Peru. Conga - Peru. AEST = Australian Eastern Standard Time which is 10 hours ahead of GMT (Greenwich Mean Time), Federal government staffer resigns after being accused in Parliament of 'vile insult', GP clinics caught unaware in rush for COVID vaccination bookings, COVID-19 vaccine jabs can now be booked through a GP. "It will be driven by demand for higher profits, institutional investors want more profit out of these companies, they don't want size. Newmont’s ventures have also included developing oil and gas sources. He … Tanami - Australia. The Fimiston Open Pit, colloquially known as the Super Pit, was Australia's largest open cut gold mine until 2016 when it was surpassed by the Newmont Boddington gold mine also in Western Australia. Turf Vent Shaft - Nevada. Palmer said Newmont, which owns 50% of the Kalgoorlie Super Pit in Australia, wasn’t aware how much progress Barrick had made in its planned sale of its half of the mine. Find all Newmont documents, ranging from fact sheets, policies and standards to reports, presentations and more. [+] Kalgoorlie Consolidated Gold Mines Ltd., jointly owned by Barrick Gold Corp. and Newmont Mining Corp., and is Australia's largest open-pit mine. View the latest career opportunities at Newmont, across all offices, facilities and sites. Leyshon in Queensland. Newmont Mining Corporation, based in Denver, Colorado, is one of the world's largest producers of gold, with active mines in Nevada, Indonesia, Australia, New Zealand, Ghana, and Peru. 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. While Goldcorp had no assets in Australia, Newmont has been a big player Down Under. Newmont offers university students and recent graduates opportunities to gain real-world experience with a global leader in responsible mining. The Western Shoshone, Shoshone-Paiute and Goshute are indigenous to the Great Basin region in which Newmont’s Nevada operations reside. The combined operation was purchased by Normandy Mining in 2000, with ownership transferring to Newmont Mining Corporation in 2002. (RTTNews) - Newmont Mining Corp. (NEM, NGT.TO) announced Tuesday that it has agreed to sell its 50 percent stake in Kalgoorlie Consolidated Gold Mines or … The famous Kalgoorlie Super Pit, which is joint owned by the newly established Newmont Goldcorp. Kalgoorlie - Australia. "It all comes back to that core question of have you discovered enough to keep going? 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NEM: Get the latest Newmont Mining stock price and detailed information including NEM news, historical charts and realtime prices. Despite the challenges of living and working through a global pandemic, Newmont accomplished so much in 2020. Newmont is well positioned to safely and efficiently ramp-up mining operations in a timely manner. Newmont Ranked Top Gold Miner in DJSI World Index. "So you're going to see [some] assets spun-off and you'll see projects pop free and local companies given a chance to buy them. The smaller and more remote mines are the most likely targets. KCGM Operations include the Fimiston Open Pit (Super Pit), Mt Charlotte Underground Mine and the Fimiston and Gidji Processing Plants, located adjacent to the City of Kalgoorlie-Boulder approximately 600 kilometres (km) east of Perth, Western Australia. The Company’s long-term value proposition remains unchanged, despite these shorter-term disruptions, as Newmont continues to have the industry’s largest gold Mineral Reserves of 95.7 million ounces 10 . Reported figures include Red Lake and the Company’s 50 percent interest in Kalgoorlie Consolidated Gold Mines (KCGM). Some smaller operations include Bolivia, Mexico, and Canada. The Mayor of Kalgoorlie-Boulder says a streamlining of ownership of the city's iconic Super Pit gold mine has the potential to bring long-term benefits to the community. The Super Pit is owned by Kalgoorlie Consolidated Gold Mines Pty Ltd, a company owned 50/50 by Barrick Gold Corporation and Newmont Mining Corporation. Newmont Australia is also responsible for the management of two legacy mine sites: Woodcutters in the Northern Territory and Mt. Newmont Mining says its exploration program at Kalgoorlie will not encroach on the historic gold rush town. Newmont reported that the 2020 reserve total of 94.2 million ounces was after adjustments for its sale of its share of KCGM in Kalgoorlie, Australia, and Red Lake Mine in Canada. It also owns the Boddington gold mine in Western Australia and a gold mine in the remote Tanami region of the Northern Territory, which has just benefitted from the completion of a 450 kilometre gas pipeline. Great Central Mines opened the Jundee mine in early 1996, and following its takeover of Eagle Mining in 1997, expanded the operation to include the neighbouring Nimary mine. Ahafo - Ghana. We acknowledge Aboriginal and Torres Strait Islander peoples as the First Australians and Traditional Custodians of the lands where we live, learn, and work. Waihi - New Zealand. Receive updates directly to your inbox on financial news, press releases, upcoming events and presentations, performance reports, blog posts and more. Jundee was acquired by Nor… And buried in Barrick’s Q2 release was an announcement that it’s looking for a buyer for half of Australia’s Kalgoorlie Consolidated Gold Mines. Long Canyon - Nevada. Newmont Corporation, formerly Newmont Goldcorp Corp, is a mining company, which is focused on the production of and exploration for gold, copper, silver, zinc and lead. Mr Treadgold believed both newly merged gold giants, Newmont Goldcorp and Barrick-Randgold, will look to sell off some of their assets. "So perhaps you'll see the Tanami [gold mine] pop free and a local Australian company given the chance to buy it.". Kalgoorlie Lake View Pty Ltd : Victoria, Australia : 100 % Kalgoorlie Consolidated Gold Mines Pty Ltd : Western Australia : 50 % Norkal Pty Ltd : Western Australia ... Newmont Mining Corporation of Canada Limited : British Columbia : 100 % Newmont NE Holdings Subco Limited : British Columbia : 100 % Newmont Investment Pte Ltd : Singapore The Wiluna area was first explored by Lawrence Wells in 1892. Pamaka Maroon Tribe of the Marowijne River The Merian mine is located on the traditional lands of the Pamaka, and we engage extensively with the people of the tribe. Akyem - Ghana. The South Kalgoorlie Operations is located within the Eastern Goldfields Superterrane and the 842sqkm tenement package traverses across the Coolgardie, Ora Banda, Kambalda and Boorara Domains. Batu Hijau - Indonesia. Natural resources harvested include gold, silver, copper, zinc, uranium and other metals. Newmont Mining - Nevada. "They probably only want six or seven big, high-quality projects, so you're going to see things sold off. Newmont successfully completed the sale of KCGM in January 2020 and expects to close the divestment of Red Lake in the first quarter of 2020. Galore Creek Mining Corporation is a partnership between Newmont and Teck developing a world class copper, gold and silver project. "The knee-jerk answer is this merger will not be good [for Newmont's Australian gold mines], because a lot of North American companies are contracting back into North America, it's happening also in the oil and gas industries. Subscribe for the national headlines of the day. It's a long way from home, maybe we should think carefully about whether we want to persevere with a country as far away as Australia'. Newmont offers university students and recent graduates opportunities to gain real-world experience with a global leader in responsible mining. Newmont has purchased and sold a number of operations in recent years: Ranches and Rangeland - … Our purpose is to create value and improve lives through sustainable and responsible mining. In addition, last week, Newmont Goldcorp completed the sale of its 50% stake in Kalgoorlie Consolidated Gold Mines to Australia’s Northern Star Resources for cash proceeds of US$800 million. 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. Newmont Showcases World-Class Asset: Peñasquito Virtual Site Tour, Newmont Recognized for Strong Environmental, Social and Governance Performance, Newmont Brings First Autonomous Haulage Fleet to Gold Mining Industry, Entering Our Next 100 Years of Value Creation. Newmont Mining’s Roots Since it was founded in 1916 by Colonel William Boyce Thompson, Newmont Mining Corporation has focused on mining. Kalgoorlie Consolidated Gold Mines Pty Ltd (KCGM) is owned by Northern Star Resources Limited. American mining giant Newmont Goldcorp will retain its 50 per cent ownership The deal with Canada's Barrick Gold finalised in Toronto over the weekend, two months after Saracen privately entered a "competitive" sale process, and was announced to the Australian Securities Exchange on Monday morning. ... Tanami and Kalgoorlie in Australia. Located in Northwestern British Columbia we are committed to improving the project economics and advancing the asset towards development. Gary Goldberg, Newmont Mining president and chief executive officer, discusses royalty rates and the possibility of buying Barrick's Kalgoorlie stake. (ABC News: Jarrod Lucas)
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