It's been a busy 12 months for Newmont.
With its $26.2 billion acquisition of Newcrest wrapping up late last year, the miner has gone from major to universal, firmly taking its place as a global gold powerhouse.
Now, Newmont is evolving its strategy. A flurry of activity in recent months has seen the miner put a host of gold mines up for sale, including the Telfer operation it inherited in the Newcrest takeover.
When it comes to gold, it seems Newmont is only hungry for Tier 1 assets. The company brought in 1.7 million attributable gold ounces (oz) in the 2024 March quarter alone, 1.4 million of which was driven by the company's Tier 1 portfolio.
As Newmont optimises its gold portfolio, the major hopes to have 10 Tier 1 gold mines under its belt, more than half of the world's largest gold mines.
But the sell-offs may offer more than a leaner, more stable profile defined by world-class assets. Newmont chief executive officer Tom Palmer recently revealed the company is looking to maximise its copper potential.
With the future importance of copper being increasingly understood, a host of majors are eager to boost their exposure to the base metal.
هذه القصة مأخوذة من طبعة August 2024 من Australian Mining.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة August 2024 من Australian Mining.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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