Telfer Sale - High level of interest through the first phase and six or seven organisations taken into second phase
Posted: Fri Jun 07, 2024 6:55 am
The world’s biggest gold miner says it would consider a joint venture with BHP to exploit its significant copper reserves after the Australian mining giant walked away from a $64 billion takeover targeting Anglo American’s copper-rich assets....
Newmont chief executive Tom Palmer, fresh from bedding down last year’s $26 billion buyout of top Australian gold producer Newcrest, said global demand for copper would drive “tectonic” opportunities across the mining industry, empowering companies to either build copper mines or buy them....
The gold miner announced in February it would whittle down its portfolio and sell half a dozen mines around the world, including Telfer in the Pilbara and an adjoining gold and copper prospect called Havieron, in a bid to raise $3.05 billion in cash.
Telfer, a fly-in fly-out gold, copper and silver mine in Western Australia’s Great Sandy Desert, was part of Newcrest’s portfolio along with the Cadia mine in NSW and Lihir mine in Papua New Guinea, when it was absorbed by Colorado-based Newmont last November.
Palmer said there was strong interest in the Telfer gold mine.
“We had a high level of interest through the first phase and we’ve taken six or seven organisations into second phase. That’s progressing very well and there is good interest,” he said....
https://www.smh.com.au/business/compani ... 5jjuf.html
Newmont chief executive Tom Palmer, fresh from bedding down last year’s $26 billion buyout of top Australian gold producer Newcrest, said global demand for copper would drive “tectonic” opportunities across the mining industry, empowering companies to either build copper mines or buy them....
The gold miner announced in February it would whittle down its portfolio and sell half a dozen mines around the world, including Telfer in the Pilbara and an adjoining gold and copper prospect called Havieron, in a bid to raise $3.05 billion in cash.
Telfer, a fly-in fly-out gold, copper and silver mine in Western Australia’s Great Sandy Desert, was part of Newcrest’s portfolio along with the Cadia mine in NSW and Lihir mine in Papua New Guinea, when it was absorbed by Colorado-based Newmont last November.
Palmer said there was strong interest in the Telfer gold mine.
“We had a high level of interest through the first phase and we’ve taken six or seven organisations into second phase. That’s progressing very well and there is good interest,” he said....
https://www.smh.com.au/business/compani ... 5jjuf.html