As every mining company knows, closing a mine can be costly, especially one the size of Newmont's (NYSE:NEM) Yanacocha in Peru.
Newmont Mining Mining News
The Chinese miner is also having a hard time trying to convince Western lenders of financing part of the deal.
Barrick Gold's (NYSE,TSX:ABX) quest to find a buyer of the Kalgoorlie "Super Pit" has taken another intriguing turn.
Commercial production of 100,000–150,000 ounces per year at all-in costs below $600 starts next week.
While gold is giving back some of its largest gains following Trump's win in the US Presidential election, miners of the precious metals continue to climb.
Ten gold mines that timed the gold price rally to perfection – Barrick owns four of them.
Barrick says sale talks are "robust" but with strongest pipeline in gold mining Denver-based Newmont may soon become globe's top producer anyway.
"I'm a mining engineer so I always like to see the equipment. That's always fun to get out and see, and especially how technology is being applied."
Merian gold mine was completed on time and more than $150 million — about 20% — below its initial capital budget.
The complex land dispute between members of the Chaupe family and Yanacocha remains a concern for Newmont, the company said.
Denver-based Newmont Mining “prioritized eviction and litigation over dialogue” in its fight to acquire Goldman Prize winner Máxima Chaupe’s land in Peru.
Amended impact review for TMAC's 3.2 million ounce Hope Bay project in Canada's Nunavut territory completed.
One million ounces at all-in cost below $700 by mid-2017.
Newmont ranked mining industry leader by Dow Jones Sustainability World Index for second year in a row
Newmont was the first gold company named to the index in 2007, and has been included on the DJSI North America Index every year since 2006.
There are some positives.
Newmont Mining’s exit after more than 30 years illustrates mining companies’ growing difficulties there.
Barrick's off-loading half of the Kalgoorlie Super Pit and Newmont, its partner and operator of the iconic Aussie mine, would be the natural buyer.
World's number two gold producer's second quarter results ticks all the boxes as it throws off $486 million in free cash in its second quarter.
With the sale, Newmont is offloading its Batu Hijau mine, Indonesia’s the second-biggest copper and gold operation.
More environmentalists were murdered in Latin America in 2015 than anywhere else in the world, with anti-mining causes claiming the most lives, a report by Global Witness shows.
"We are one of the few who are building."
Newmont Mining Corporation was officially incorporated on May 2, 1921.
The gold and copper miner didn’t specified where the alleged misconduct took place.
The company has removed its massive gold and copper project Peru from its list of reserves in its annual filing with the U.S. Securities and Exchange Commission (SEC).
Panigoro, the founder of oil and gas firm PT Medco Energi Internasional Tbk, has agreed to buy a controlling stake in Newmont Mining Corp's local metals operations.