Newmont has received key regulatory authorizations from the government of British Columbia for the transition of its Red Chris gold-copper mine from current open-pit operations to block caving, extending mine life into the mid-2040s. The province’s approvals include an amended Environmental Assessment Certificate (EAC), achieved through a consent-based process with the Tahltan Nation, as well as an amended Mines Act…
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Newmont has made several appointments to its executive leadership team, effective July 1. Brian Tabolt has been named chief financial officer, Mark Rodgers, chief operating officer, and David Thornton, chief technical officer. In addition, David Fry, who currently serves as group head, Global Projects, has been promoted to executive vice president, Project Development, reflecting the importance of disciplined project development…
Read MoreNewmont has sent Barrick a notice of default after finding evidence of alleged mismanagement at the Nevada Gold Mines joint venture, escalating tensions between the partners, reported Bloomberg. Barrick allegedly diverted resources from the joint venture to benefit its wholly owned Fourmile project, Newmont stated in a filing to the U.S. Securities and Exchange Commission. After informing Barrick of the…
Read MoreGlobal miner Newmont has completed the sale of its common shares of Orla Mining, for aggregate gross proceeds of US$439 million (C$605 million). “Today’s announcement demonstrates Newmont’s ongoing commitment to streamlining our equity portfolio and unlocks significant cash to support Newmont’s capital allocation priorities,” said Newmont CEO Tom Palmer. “We value the strong relationship we’ve had with Orla since our…
Read MoreTom Palmer, who has served as Newmont chief executive officer since 2019, will resign from his position on December 31. Natascha Viljoen, president and chief operating officer, will succeed Palmer as president and CEO on January 1, 2026. “After 12 years with Newmont, and almost 40 years in the mining industry, it is time for me to retire and hand…
Read MoreNewmont has agreed to sell its Coffee gold project in Yukon, Canada, to Fuerte Metals for up to $150 million in total consideration. Upon completion of the transaction, Newmont will have divested all its non-core assets, six operations and two projects. “The sale of the Coffee project reflects our ongoing efforts to streamline the portfolio and sharpen our focus on…
Read MoreGlobal miner Newmont said three Hy-Tech Drilling workers were safely brought to the surface following two fall of ground incidents that occurred in the access way to the underground work area of a Red Chris mine project in British Columbia, Canada, on July 22. “We are relieved to share that all three individuals are safe, and in good health and…
Read MoreNewmont has agreed to sell its Porcupine gold operation in Ontario, Canada, to Discovery Silver for up to $425 million in total consideration. The transaction is part of the miner’s ongoing program to divest its non-core assets. “Today’s announcement represents a significant milestone for Newmont as we have agreed to sell the final non-core operation from our divestiture program,” said…
Read MoreNewmont has agreed to sell its Cripple Creek & Victor operation in Colorado to SSR Mining for up to $275 million in cash consideration. The mine is expected to add 170,000 ounces in annual gold production to SSR’s platform. “The acquisition of the Cripple Creek & Victor Gold mine represents a rare opportunity to add a high-quality producing asset in…
Read MoreNewmont has agreed to sell its Éléonore operation in Northern Quebec, Canada, to UK-based Dhilmar for $795 million in cash consideration as part of the miner’s plan to divest its non-core assets. “Today’s announcement is another step forward in Newmont’s journey to create a go-forward portfolio of Tier 1 gold and copper assets, each with the scale and mine life…
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