2002 marked by further consolidation
It did not feel as momentous as 2000 or 2001, when we saw the creation of several global mining giants, but 2002 was full of smaller-sized mergers, particularly in the precious metals sector.Among the…
Normandy Mining Limited
Spike in gold price among highlights of 2002 Retrospection
The previous occupant of the editor’s chair here took to naming years for their characteristics. It was a useful way to encapsulate the mood of the year past, a metaphor for what fate dealt out each t…
Newmont still firmly in the black
Higher sales volumes and metal prices enabled Newmont Mining (NEM-N) to post its second profitable quarter as the world’s largest gold producer.Newmont earned US$24 million, or US6 per share, in the …
Newmont, Barrick oversee expansion of Super Pit Down Under
Kalgoorlie, Australia — Nearly 20 years ago, gold entrepreneur Alan Bond used the word “rationalization” to describe the potential for improving profitability by combining all the mining operations i…
Newmont to axe Aussie hedge
Australian gold miner Normandy Mining, now living under the banner of Newmont Mining (NEM-N), reports that subsidiary Newmont NFM will have eliminated its hedge book by early 2003.Since the end of 200…
Gold’s prospects dominate Aussie mining conference
Kalgoorlie, Australia — Consolidation in the gold mining sector and an optimistic outlook for the price of bullion over the next 18 months had delegates in high-spirits at the 10th annual Diggers & D…
Restructured Newmont proves profitable
Shareholders of Newmont Mining (NEM-N) got their first hard look at their “new” company, as the Denver-based gold giant released its first quarterlies, showing the full effects of its February merger …
Newmont rises with strong quarter
Newmont Mining turned in its first quarterly report since its mega-merger with Franco-Nevada Mining and Normandy Mining, and the results augur well for the company’s future. The company, now the world…
Record amounts spent on Aussie gold search
A record A$7.6 billion will be spent exploring for gold in Australia in 2002-03, up from A$6.7 billion in 2000-01, according to a survey by the Australian Gold Council.Gold producers will account for …
AurionGold advises rejection of Placer offer
Directors of Australian gold miner AurionGold have gone beyond their initial recommendation that shareholders not react to Placer Dome’s (PDG-T) hostile, all-share takeover offer. They are now advisin…
Moydow waits for Newmont
A July 24th decision by Newmont Mining (NEM-N) regarding the fate of the Ntotoroso gold project in Ghana’s Sefwi gold belt is looming large for equal joint-venture partner Moydow Mines International (…
Placer targets takeover of Aussie miner
Vancouver — Falling metal prices over the past few years may have initiated consolidation in the mining industry, but as the price of bullion rises to levels not seen since 1999, the wave of mergers …