NCM
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Company News
Newcrest profit hit by lower copper price and mine issues
Leading Australian gold producer Newcrest Mining (ASX: NCM) has reported an 11% fall in profits largely related to a decline in copper prices and issues at its Lihir, Telfer and Brucejack operations. The company’s statutory and underlying profits both came in at $778 million, with the company pointing the finger at a lower realised copper […]
Newcrest Mining board gives ‘thumbs up’ to Newmont’s $28.8 billion takeover bid
Newmont, the world’s largest gold producer, is now on the path to becoming significantly bigger after the board of takeover target Newcrest Mining (ASX: NCM) unanimously agreed to recommend its merger bid to its shareholders. Recent Newmont projections indicated the combined entity would potentially create annual production of 8Moz of gold and 155k tonnes of […]
Genesis bags St Barbara operations while fund managers plunge into Australian gold stocks
The battle for control of the $600 million worth of Leonora gold assets struggling miner St Barbara (ASX: SBM) seems to be over with Genesis Minerals (ASX: GMD) upping its offer and the other contender, Silver Lake Resources (ASX: SLR) having the door slammed in its face. This development followed just hours after the largest […]
NEXTDC achieves fresh records, Twiggy teams-up with IGO and Newmont ups ante in bid to woo Newcrest shareholders
ASX-100 tech company and data centre operator NEXTDC (ASX: NXT) has onboarded a record number of new customers since the end of last year, with its contract utilisation increasing 43% to 120 megawatts. NEXTDC chief executive officer and managing director Craig Scroggie said the company is well positioned to continue taking advantage of further customer […]
Australian mining companies flock to Asia as higher commodity prices and improved relations fuel interest
High commodity prices, improved working conditions, and better government relations, are attracting Australian mining companies back to Asia with a number of success stories helping repair past damage. Nickel Industries (ASX: NIC) is the star of the show, teaming up with one of China’s biggest steel makers to produce nickel for its stainless steel operations […]
BHP closes-in on OZ Minerals takeover, Newmont lobs bid for Newcrest and Qantas boss apologises – again
BHP Group (ASX: BHP) received approval from Brazil’s competition regulator on Monday for its acquisition of OZ Minerals (ASX: OZL). BHP announced its intent to buy-out OZ Minerals last year, which will help strengthen the company’s concentration in raw materials, particularly copper. Demand for the metal is expected to increase significantly as the world transitions […]
World’s largest gold producer Newmont makes $24.5b bid for Newcrest Mining
Australian company Newcrest Mining (ASX: NCM) has received a $24.5 billion conditional and non-binding indicative takeover bid from global gold producer Newmont Corporation (NYSE: NEM). The offer proposes to acquire 100% of the issued shares of Newcrest through a scheme of arrangement where investors would be entitled to receive 0.380 Newmont shares for each Newcrest […]
Star hit with NSW tax hike, BHP and OZ extend exclusivity period and Newcrest Mining CEO retires
Beleaguered The Star Entertainment Group’s (ASX: SGR) shares have continued their downward spiral – plummeting at the start of this week after the New South Wales Government announced plans to raise an extra $364 million in taxes from casino operators over the next three years. The Star chief executive officer Robbie Cooke slammed the move, […]
Novonix finalises US$150m grant, Qantas boss wants ‘super terminal’ and BHP workers seek better conditions
Novonix’s (ASX: NVX) shares have been surging in recent days after confirming it is in discussions with the US Department of Energy for a grant worth US$150 million (A$240 million) to fund its production expansion plans. The battery materials and technology company has also been in advanced talks with multiple suitors over additional funding which […]
Rio Tinto JV invests in Western Range project, Liontown selects Zenith Energy to power Kathleen Valley and Healius chair retires
Mining giant Rio Tinto (ASX: RIO) and China’s Baowu Steel Group have announced they will invest US$2 billion (A$3 billion) as part of a joint venture to develop the Western Range iron ore project in Western Australia’s Pilbara. Rio will own a 54% stake in the joint venture, if approved by shareholders. If the deal […]