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Released February 09, 2023 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Potential mining mergers are back in the news in a big way. Earlier this week, U.S.-based gold miner Newmont Corporation (NYSE:NEM) (Denver, Colorado) made an all-stock offer of US$17 billion for Australia's Newcrest Mining Limited (Melbourne). If the deal goes through, it would easily cement Newmont's position as the world's largest gold miner, eclipsing closest rival Barrick Gold Corporation (NYSE:GOLD) (Toronto, Ontario) by nearly twice the output. Industrial Info is tracking more than US$15.7 billion in active projects for Newmont and Newcrest.
According to data provider Refinitiv, if the Newmont-Newcrest deal goes through, it would be the largest mining takeover and the third-largest corporate buyout in Australian history. But the deal is far from being a sure thing. According to news media, feedback from Newcrest shareholders suggests they're after a higher price. Newmont's offer placed a 21% premium on Newcrest's share price before the announced bid, when the traditional takeover premium is about 30%. Sources have told Reuters that Newmont executives may be open to slightly sweetening the deal.
Newmont is active at mines throughout the world. Among the company's projects are more than US$1 billion worth in Ghana, where the company is underway with a mine expansion, with another expansion and a grassroot development set to kick off soon. Newmont kicked off the expansion of its Subika mine in Ghana in late 2021 by launching a robust surface exploration program at the Awonsu prospect and the installation of structural steel work and mechanical equipment at the mine. The project is expected to wrap up in 2024. In the coming months, Newmont intends to begin adding underground mining operations to its Akyem open pit in Ghana to expand the mine's operational efficiency.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for the report on the Subika mine and click here for the report on the Akyem mine project.
Newmont's largest project in Ghana is set to kick off soon, when the company starts development of the grassroot above-ground Ahafo North gold mine. The mine has an estimated 3.3 million ounces of reserves and a 13-year mine life. The project is expected to wrap up in the summer of 2024. Subscribers can click here for the full report.
Among Newmont's North American projects on the table is the potential redevelopment and restart of its Pamour above-ground gold mine in Ontario. Operations at the mine ceased in 2009, but now, as Newmont ramps down production at other mines, the company is looking to begin operations at the Pamour mine again for another 12 years or so, with the prospect of extracting 133,000 ounces of gold per year. Construction could begin early next year. Subscribers can click here for the full report.
Industrial Info is tracking more than US$4.6 billion in active Newcrest projects in North America and Oceania. In Papua New Guinea, Newcrest this year is set to begin a life extension of its Lihir Island facility by extending a cutback and steepening the walls to provide access to additional mined material. According to local news media, the miner initially expects to feed about 13 million tons of high- and medium-grade ore from the mine through its processors, yielding an incremental 400,000 ounces of gold. Lower-grade ore will be stockpiled and fed through the processors for the remainder of the mine's life. Last month, Newcrest gave the green light to go ahead with the project. Subscribers can learn more by viewing the project report.
Subscribers to Industrial Info's GMI Database can click here for a look at all of the reports for projects discussed in this article, and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
According to data provider Refinitiv, if the Newmont-Newcrest deal goes through, it would be the largest mining takeover and the third-largest corporate buyout in Australian history. But the deal is far from being a sure thing. According to news media, feedback from Newcrest shareholders suggests they're after a higher price. Newmont's offer placed a 21% premium on Newcrest's share price before the announced bid, when the traditional takeover premium is about 30%. Sources have told Reuters that Newmont executives may be open to slightly sweetening the deal.
Newmont is active at mines throughout the world. Among the company's projects are more than US$1 billion worth in Ghana, where the company is underway with a mine expansion, with another expansion and a grassroot development set to kick off soon. Newmont kicked off the expansion of its Subika mine in Ghana in late 2021 by launching a robust surface exploration program at the Awonsu prospect and the installation of structural steel work and mechanical equipment at the mine. The project is expected to wrap up in 2024. In the coming months, Newmont intends to begin adding underground mining operations to its Akyem open pit in Ghana to expand the mine's operational efficiency.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for the report on the Subika mine and click here for the report on the Akyem mine project.
Newmont's largest project in Ghana is set to kick off soon, when the company starts development of the grassroot above-ground Ahafo North gold mine. The mine has an estimated 3.3 million ounces of reserves and a 13-year mine life. The project is expected to wrap up in the summer of 2024. Subscribers can click here for the full report.
Among Newmont's North American projects on the table is the potential redevelopment and restart of its Pamour above-ground gold mine in Ontario. Operations at the mine ceased in 2009, but now, as Newmont ramps down production at other mines, the company is looking to begin operations at the Pamour mine again for another 12 years or so, with the prospect of extracting 133,000 ounces of gold per year. Construction could begin early next year. Subscribers can click here for the full report.
Industrial Info is tracking more than US$4.6 billion in active Newcrest projects in North America and Oceania. In Papua New Guinea, Newcrest this year is set to begin a life extension of its Lihir Island facility by extending a cutback and steepening the walls to provide access to additional mined material. According to local news media, the miner initially expects to feed about 13 million tons of high- and medium-grade ore from the mine through its processors, yielding an incremental 400,000 ounces of gold. Lower-grade ore will be stockpiled and fed through the processors for the remainder of the mine's life. Last month, Newcrest gave the green light to go ahead with the project. Subscribers can learn more by viewing the project report.
Subscribers to Industrial Info's GMI Database can click here for a look at all of the reports for projects discussed in this article, and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
