The company has been accused of human rights violations and accelerating environmental damage particularly on Halmahera Island in Indonesia. Track 13F-HR Filings for Hedge Funds and Value Investors. India and China recently became the top importers of Australian gold because it continues to function extremely well as an inflation hedge. Newcrest is also heavily invested in SolGold, another Ecuador-focused company. The reserve and resource base is strong, with current gold reserves representing more than 25 years of production at current rates. Being so large, we would not expect insiders to own a large proportion of the stock. Furthermore, environmental and social concerns in relation to the mining industry have become global with the widespread uptake of new communication technologies. Newcrest Mining Provides Quarterly Report 09 Oct 2020 Newcrest Mining Announces Approval of Cadia Expansion and Lihir Recovery Improvement Projects: 06 Oct 2020 Newcrest Mining Receives Conditional Approval for TSX Listing: 10 Sep 2020 Newcrest Mining Provides Exploration Update Other factors lifted the production in gold, such as the development of the efficient carbon-in-pulp method for recovering very fine-grained and low-grade gold. When in 1990 the company acquired 100% of Australmin Holdings Ltd and 92% of BHP Gold Mines Ltd, it acquired its current company name. Newcrest Mining has a market capitalization of AU$16b, so it’s too big to fly under the radar. The information on this site is not intended to be, nor does it constitute, investment advice or recommendations. Corporate Governance Newcrest Mining Limited’s ISS Governance QualityScore as of November 2, 2019 is 1. Collectively, they own AU$35m of stock. The Conversation. The mine has produced 772,018 ounces (24,012.4 kg) of gold and 812,815 ounces (25,281.4 kg) of … We’d expect to see both institutions and retail investors owning a portion of the company. However, Newcrest also operates in the sale of concentrate to merchants who deliver the material to various regional smelters under their own contracts. The mine is located 65 km from the city of Lae in Papua New Guinea. In April 2010, Newcrest announced it was in merger talks with Lihir Gold, a move that would create the world's fifth-largest gold producer, with a combined production of 2.8 million ounces of gold in 2009. [12], "Lihir Gold shareholders approve Newcrest takeover", "PNG court approves gold miner Newcrest's Lihir takeover", Catalpa Resources and Conquest Mining unite to form top five Australian gold producer, "Evolution Mining – Australian Gold Company", "Newcrest Mining leaves the Toronto exchange", "Gold miner Newcrest starts trading on Toronto Stock Exchange", "Mining Journal - Newcrest suspends Ivory Coast project", https://www.foe.org.au/media-releases/2004-media-release/newcrest%E2%80%99s-indonesian-mining-violations-challenged, https://en.wikipedia.org/w/index.php?title=Newcrest_Mining&oldid=986800912, Non-renewable resource companies established in 1980, Companies listed on the Toronto Stock Exchange, Companies listed on the Australian Securities Exchange, Articles with unsourced statements from September 2008, Official website different in Wikidata and Wikipedia, Creative Commons Attribution-ShareAlike License, This page was last edited on 3 November 2020, at 02:23. Newcrest Mining (ASX:NCM) has acquired a 1.5% net smelter return royalty on the Red Chris South project located 5 km from its 70% owned Red Chris gold-copper mine in British Columbia. Newcrest Mining Limited is an Australian-based corporation which engages in the exploration, development, mining and sale of gold and gold-copper concentrate. It was acquired by taking over Lihir Gold Ltd. in 2010 (see above). Newcrest's primary focus was within Australia until 1991, when it commenced exploration overseas. Newcrest Mining Limited is a gold producer. Newcrest manages property development and investment. Imperial retains a 30% joint venture interest in the Red Chris mine. The discovery of gold has been a major contributor to Australia's economy and infrastructure. The Telfer Mine is a large open cut and underground mine in the Pilbara region of Western Australia. This was especially prominent after 1851 in the Victorian goldfields. About Newcrest Newcrest is the largest gold producer listed on the Australian Securities Exchange and one of the world’s largest gold mining companies. In 1980 the subsidiary became Newmont Holdings Pty Ltd and was based in Victoria, Australia. Disclaimers: stockzoa.com is not operated by a broker, a dealer, or a registered investment adviser. Annual surveys by the Minerals Council of Australia show that from the mid- to late-1990s, respondents spent over 40% of their total exploration budgets overseas. Past performance is a poor indicator of future performance. The mine is located 1700 km from Vancover in Canada. It’s one of the richest seams Newcrest … The Newmont name is an abbreviation of where Thompson lived and worked; New York and Montana. Wafi - Golpu - A gold and copper mine where Newcrest Mining owns a 50% stake in the operations. Ridgeway is a large underground gold and copper mine being developed by Newcrest. The WGJV has applied for a Special Mining Lease for the Wafi-Golpu Project and has submitted an Environment Impact Statement to the PNG Government that is undergoing a regulatory review process. [citation needed] In 2002, years of exploration around Australia and overseas were paying dividends and the Newcrest group was capitalized at over $2 billion. Newcrest was determined to become a significant and internationally recognized gold mining and exploration company. The nature of operations and principal activities of the Company are exploration, mine development, mine operations and the sale of … Gosowong, Indonesia, is an open pit mine opened in 1999. Under no circumstances does any information posted on stockzoa.com represent a recommendation to purchase or sell a stock. Please. [citation needed], After restarting gold mining activities in Cracow, Queensland, in a 70:30 joint venture with Sedimentary Holdings in 2004, Newcrest sold its shares in this operation when Catalpa Resources, which had meanwhile acquired Sedimentary Holdings, merged with Conquest Mining in 2011 to form Evolution Mining Limited. From a corporate perspective, the Australian mining industry grew beyond being a large national sector into a world player. Other offices are based at major mine sites to help communication between miners and the head office. Take a peek at who owns Australia’s biggest companies. Besides the corporate data held in that system and other IT platforms, the Newcrest IT team also “owns” the data from the front-facing mining and processing systems themselves thanks to a closer integration of information technology and operational technology. It became feasible to mine entire zones of gold-bearing veins via open cut or underground mining instead of only main veins. The soaring gold price has boosted Newcrest Mining’s full-year earnings and countered a fall in the company’s production levels. Newmont is now the world's second-largest gold producer. It is 75% owned by Newcrest, and the rest is owned by joint venture partner Pt Nusa Halmahera Minerals. We focus on quality, design, technology and environmental performance. [10] It is operated by Morobe Mining Joint Ventures, a 50:50 joint venture between Harmony and Newcrest Mining.[10]. It is Australia's leading gold mining company and its operations have expanded beyond Australia, for example Indonesia, thus becoming a prominent international mining corporation. The industry is now diversified and integrated internationally through its exploration, mining and processing activities, and the supply of information technology, engineering, construction and other services. The Telfer Mine is a gold, copper and silver mine located at Telfer on the land of the Martu people,: 7 in the Great Sandy Desert of Western Australia.It is owned by Newcrest Mining, "the largest gold producer listed on the Australian Securities Exchange.". Red Chris - A gold and copper mine where Newcrest Mining owns a 70% stake in the operations. [1] Past and present exploration was done in the Americas, Asia and Europe. The mine has produced 772,018 ounces (24,012.4 kg) of gold and 812,815 ounces (25,281.4 kg) of silver over the first five years of production. It is always good to see at least some insider ownership, but it might be worth checking if those insiders have been selling. Gosowong, Indonesia, is an open pit mine opened in 1999. Newcrest and Harmony Gold Mining Company Limited (Harmony) each currently own 50% of the Wafi-Golpu Project through the Wafi-Golpu Joint Venture (WGJV). Technology and mapping made gold exploration more accurate and efficient. Add alert CUSIP Number: Q6651B114; Top investors of Newcrest Mining stock. [5][6][7], In addition to its primary listing on the Australian Stock Exchange, Newcrest Mining stock is also traded on the Port Moresby Stock Exchange in Papua New Guinea (since 2010) and the Toronto Stock Exchange in Canada (2012-14[8] and since 2020).[9]. September 12, 2019 . In no event shall stockzoa.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content available on stockzoa.com, or relating to the use of, or inability to use, stockzoa.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. There are no current stakeholders of Newcrest Mining. And in 1996, Newcrest stated that the company wished to transform itself into a world-scale and internationally recognized producer. It is 75% owned by Newcrest, and the rest is owned by joint venture partner Pt Nusa Halmahera Minerals. Wafi - Golpu - A gold and copper mine where Newcrest Mining owns a 50% stake in the operations. Until last week, it was SolGold’s largest shareholder until BHP further increase its stake in the Australian miner. [2] In August 2010, the deal was approved by Lihir shareholders (99.86%), and by the end of the month by the national court of Papua New Guinea (PNG), clearing the way for the deal. Add alert for NCMGY Ticker: NCMGY; CUSIP Number: 651191108; Top investors of Newcrest Mining stock. This development, together with Australia's political stability, led to an influx of major overseas mining companies, such as Newmont, in the 1960s. Carmichael coal production ‘one step closer’: Bravus Newcrest Mining has acquired a further US$79.6 million ($116.5 million) worth of Lundin Gold shares, increasing the Australian gold company’s ownership to 32 per cent. 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