Play Video
Newmont’s bid to get even bigger comes amid a series of consolidations in the gold sector in recent years, including the take over of Yamana Gold Inc. by two Canadian rivals — Agnico Eagle Mines Ltd. and Pan American Silver Corp. — for about US$4.8 billion in a deal that closed earlier this year.Article content, as executives and investors seek to maintain margins amid higher production costs and declining grades of the metal.
However, Bristow argued that his purchase of Randgold made sense because it added to Barrick’s production value and offered an opportunity to grow through the exploration of potentially valuable assets. He said Newmont’s pursuit of Newcrest looked like an attempt to get big for “big’s sake,” as the company would simply be bulking up, rather than improving its mix of assets.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Barrick's Mark Bristow 'struggling' to understand logic behind rival Newmont's bidBarrick Gold CEO Mark Bristow says he thinks Newmont\u0027s bid for Newcrest is rival\u0027s way of trying to get bigger for \u0022big\u0027s sake.\u0022 Read more.
Source: nationalpost - 🏆 10. / 80 Read more »
Barrick's Mark Bristow 'struggling' to understand logic behind rival Newmont's strategyBarrick Gold CEO Mark Bristow says he thinks Newmont\u0027s bid for Newcrest is rival\u0027s way of trying to get bigger for \u0022big\u0027s sake.\u0022 Read more.
Source: fpinvesting - 🏆 43. / 63 Read more »
Amplats' Viljoen makes a move to NewmontAnglo American Platinum (Amplats) CEO Natascha Viljoen is stepping down from her position at the platinum group metals (PGMs) miner after accepting an executive VP and COO position at US-based diversified miner Newmont Corporation. Having been with Amplats since April 2020, she will continue to serve as CEO – leading more than 25 000 employees and six owned and joint venture mining operations with an integrated value chain and downstream processing operations across two countries – until the completion of her notice period of up to 12 months, following which she will join Newmont.
Source: MiningWeeklyCA - 🏆 48. / 63 Read more »
Newcrest spurns Newmont's $17-billion offer but leaves door openNewcrest Mining rejected a US$17\u002Dbillion takeover bid by Newmont, with the interim CEO saying the company was “worth a lot more.” Read on.
Source: financialpost - 🏆 7. / 85 Read more »
Newcrest spurns Newmont's $17-billion offer but leaves door openNewcrest Mining rejected a US$17\u002Dbillion takeover bid by Newmont, with the interim CEO saying the company was “worth a lot more.” Read on.
Source: fpinvesting - 🏆 43. / 63 Read more »
Barrick Gold reports US$735M Q4 loss compared with $726M profit a year earlier - BNN BloombergBarrick Gold Corp. reported a US$735-million loss in its fourth quarter compared with a profit of US$726 million in the same quarter a year earlier.
Source: BNNBloomberg - 🏆 83. / 50 Read more »