Newmont CCV haul trucks

Newmont’s end of the year earnings report recapped a transitional year for the world’s largest gold miner. The company completed the acquisition of Newcrest Mining Ltd., which propelled the company’s gold production to more than 5.5 million gold ounces and 891,000 oz of gold equivalent ounces from copper, silver, lead, and zinc. It also declared reserves of 136 million oz of gold and resources of 174 million oz of gold, and significant upside to other metals.

And, once the company had the opportunity to take stock of all that it had amassed, it said it has decided it would sell some assets. Newmont said it is seeking to divest the Akyem, Cripple Creek & Victor (CC&V), Éléonore, Porcupine, Musselwhite, and Telfer mines. In addition, Newmont expects to divest the Coffee project in Canada and the Havieron project in Australia.

Newmont said it’s go-forward portfolio is focused on Tier 1 assets, consisting of six managed Tier 1 assets (Boddington, Tanami, Cadia, Lihir, Peñasquito and Ahafo), assets owned through two non-managed joint ventures at Nevada Gold Mines and Pueblo Viejo, including four Tier 1 assets (Carlin, Cortez, Turquoise Ridge and Pueblo Viejo), three emerging Tier 1 assets (Merian, Cerro Negro and Yanacocha), and an emerging Tier 1 district in the Golden Triangle in British Columbia (Red Chris and Brucejack). Newmont’s Tier 1 portfolio also includes attributable production from the company’s equity interest in Lundin Gold (Fruta del Norte).

Newmont is also investing in future production and it’s project pipeline includes Tanami Expansion 2, Ahafo North, Cadia Block Caves and Cerro Negro District Expansion.