GOLDEN BULL CHARGES ON COPPER
Australian Mining|August 2024
WHILE GOLD HAS ALWAYS BEEN NEWMONT’S BREAD AND BUTTER, THE MAJOR MINER MAY HAVE ITS EYE ON A COPPER FUTURE.
GOLDEN BULL CHARGES ON COPPER

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.

This story is from the August 2024 edition of Australian Mining.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the August 2024 edition of Australian Mining.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM AUSTRALIAN MININGView All
THE AI MINING REVOLUTION
Australian Mining

THE AI MINING REVOLUTION

MINERS ARE UNLOCKING THE POTENTIAL OF AI IN THEIR OPERATIONS BY TAKING ADVANTAGE OF NEW DIGITAL INFRASTRUCTURE.

time-read
3 mins  |
August 2024
RISING TO MEET A CRITICAL FUTURE
Australian Mining

RISING TO MEET A CRITICAL FUTURE

SCALING UP CRITICAL MINERALS PROCESSING IS ESSENTIAL IF THE WORLD IS TO MEET ITS NET-ZERO GOALS. BUT THERE’S ONE KEY STEP THAT CAN’T BE OVERLOOKED.

time-read
3 mins  |
August 2024
AN ENVIRONMENTAL LIFESAVER
Australian Mining

AN ENVIRONMENTAL LIFESAVER

THROUGH ITS INSPIRED DREDGING TECHNOLOGY, DREDGE ROBOTICS IS HELPING MINING COMPANIES MITIGATE ENVIRONMENTAL HAZARDS.

time-read
3 mins  |
August 2024
ONE FOR THE AGES
Australian Mining

ONE FOR THE AGES

AUSTRALIAN MINING TAKES A LOOK AT SOME OF THE HIGHLIGHTS FROM THE 2024 PNG EXPO.

time-read
2 mins  |
August 2024
THE UNHERALDED CRITICAL MINERALS
Australian Mining

THE UNHERALDED CRITICAL MINERALS

AUSTRALIAN MINING SPOTLIGHTS THREE AUSTRALIAN-BASED COMPANIES WITH BRIGHT CRITICAL MINERALS FUTURES.

time-read
5 mins  |
August 2024
A SAFETY PIONEER
Australian Mining

A SAFETY PIONEER

YANCOAL AUSTRALIA IS AN INDUSTRY FORERUNNER WHEN IT COMES TO IMPLEMENTING A CULTURE OF SAFETY EXCELLENCE.

time-read
3 mins  |
August 2024
WOMEN IN INDUSTRY AWARDS 2024
Australian Mining

WOMEN IN INDUSTRY AWARDS 2024

THE ANNUAL WOMEN IN INDUSTRY AWARDS SPOTLIGHTS THE TALENTED WOMEN MAKING A DIFFERENCE ACROSS A RANGE OF TYPICALLY MALE-DOMINATED INDUSTRIES LIKE MINING.

time-read
7 mins  |
August 2024
COPPER IS KING
Australian Mining

COPPER IS KING

BHP ASSET PRESIDENT COPPER ANNA WILEY OUTLINED A COPPER-FOCUSED FUTURE FOR THE BIG AUSTRALIAN AT THE 2024 COPPER TO THE WORLD CONFERENCE.

time-read
2 mins  |
August 2024
VITAL PROTECTION FROM CYBER THREATS
Australian Mining

VITAL PROTECTION FROM CYBER THREATS

CYBERSECURITY IS CRITICAL FOR AN INCREASINGLY DIGITALISED AUSTRALIAN MINING INDUSTRY.

time-read
3 mins  |
August 2024
GOLDEN BULL CHARGES ON COPPER
Australian Mining

GOLDEN BULL CHARGES ON COPPER

WHILE GOLD HAS ALWAYS BEEN NEWMONT’S BREAD AND BUTTER, THE MAJOR MINER MAY HAVE ITS EYE ON A COPPER FUTURE.

time-read
3 mins  |
August 2024