Newcrest to Drive Longer-term Value Upside from Long Reserve Life With Innovation and Efficiency
Scepticism is warranted when it comes to the mining industry and acquisitions as meaningful capital has at times been destroyed, particularly through the recent China boom. However, we’re reasonably comfortable with Newcrest’s proposed acquisition of 70% of the Red Chris mine. The company will pay USD 807 million to Canadian listed Imperial Metals for the interest. Importantly, Newcrest will be the operator and the interest well be held directly at the mine level. Imperial Metals is financially ...Newcrest Mining is engaged in the exploration, mine development, mine operations and the sale of gold and gold/copper concentrate. As of June 30 2016, Co.'s reportable operating segments were: Cadia, Australia; Telfer, Australia; Lihir, Papua New Guinea (PNG); Gosowong, Indonesia; Hidden Valley Joint Venture (JV) (50% interest), PNG; Bonikro, COte d'Ivoire; and Exploration and Other, which mainly comprises projects in the exploration, evaluation and feasibility phase and includes Wafi-Golpu JV (50% interest) in PNG, Namosi JV (70.67% interest) in Fiji, O'Callaghans in Australia and Co.'s global greenfields exploration portfolio.
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