Newmont takes a bite, mid-caps wait for the crumbs
Don’t be surprised if Newmont’s move on Newcrest spawns a purple patch of mergers and acquisitions in Australia’s gold sector.
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Don’t be surprised if Newmont’s move on Newcrest spawns a purple patch of mergers and acquisitions in Australia’s gold sector.
The world’s largest gold miner has lobbed a blockbuster $24.4 billion bid for ASX-listed Newcrest Mining, but faces pushback from investors.
While Newmont gave birth to Newcrest 57 years ago, the ASX miner’s more recent management issues have played into the US gold mining giant’s hands.
For the three months ended 31 December 2022(figures are unaudited and in US$ except where stated)On track to deliver FY23 guidance as key growth projects advance to execution Solid second quarter with
Current and former Newcrest staff gave an external consultant lukewarm reviews of the miner’s workplace culture reset prior to the CEO’s exit in December.