The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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With the roughly $19 billion buyout of Newcrest Mining Ltd., Newmont Corp. has added two operating mines to its already impressive portfolio of gold and copper assets in the Golden Triangle region of Northern British Columbia. "By combining the two existing Newcrest operations, Brucejack and Red Chris, with Newmont's Saddle North and Galore Creek projects, a Tier 1 district in the highly prospective Golden Triangle region of British Columbia will be created – a district in w...
World's top gold mining company adds two Golden Triangle mines to its two large gold-copper projects in Northern BC. In a historic deal that adds to Newmont Corp.'s position as the world's largest gold producer while also substantially boosting its production of the copper needed for the energy transition, the Colorado-based mining company has completed the roughly US$19 billion buyout of Newcrest Mining Ltd. "Today marks a historic milestone in our company and the industry...
Increased copper and gold output at Red Chris and Brucejack; drilling shows promising future potential at both BC mines. As the finalization of its merger with Newmont Corp. looms on the horizon, Newcrest Ltd. reports increased metals production and abundant upside at its Red Chris and Brucejack mines in the Golden Triangle region of Northern British Columbia. "In May we reached an agreement for Newmont to acquire 100% of the issued shares in Newcrest," said Sherry Duhe, the i...
Merged company will hold several world-class gold, copper assets in Northern BC's Golden Triangle. In a deal that will bring together several world-class copper and gold projects in British Columbia's Golden Triangle, Newmont Corp. and Newcrest Mining Ltd. have agreed upon a merger worth A$28.8 billion (US$19.3 billion) to Newcrest shareholders. "The combination of Newmont and Newcrest represents an exceptional value proposition for shareholders and other stakeholders," said N...
The North of 60 Mining area hosts billions of pounds of copper ready to be delivered to a world craving this metal in sky-high demand for wiring the electric vehicles and renewable energy infrastructure that would enable the envisioned low-carbon future. Whether enough of these copper-rich projects are developed in time to circumvent a short circuit of the clean energy transition remains to be seen. Global Market analysts such as S&P Global have predicted that copper...
New $19.6 billion proposal deemed fair by Newcrest board; companies advance one step closer to merger. With a new US$19.6 billion (A$29.4 billion) offer, Newmont Corp. is one step closer to completing a merger with Newcrest Mining Ltd. For Newmont, which is already the world's largest gold mining company, the proposed combination with Newcrest would add gold and copper production from mines in Australia, Canada, and Papua New Guinea. In February, it was revealed that Newmont...
From competing offers for an exploration company with large and intriguing mineral projects in the Yukon, to the world's largest gold miner making a US$17 billion bid to buyout an Australian mining company with two producing assets in British Columbia's Golden Triangle, February was a big month for mergers and acquisitions in the North of 60 Mining News coverage area. Three M&A proposals were put forward in February that would create a shift in the North of 60 mining sector...
Newcrest Mining Ltd. and Imperial Metals Corp. March 13 announced that the East Ridge exploration target at the Red Chris copper-gold mine in Northern British Columbia is shaping up to be substantially larger than originally envisioned. Based on drilling completed up to mid-2022, Newcrest estimated that East Ridge could host up to 170 million metric tons of resource averaging 0.5% (2 billion pounds) copper and 0.5 grams per metric ton (2.8 million ounces) gold on the low end,...
Proposed merger could have major implications for several mining projects in BC's Golden Triangle. Over the weekend, Newcrest Mining Ltd. and Newmont Corp. confirmed rumors of a proposed merger that has major implications for the future of mining in British Columbia's Golden Triangle. "We believe a combination of Newmont and Newcrest presents a powerful value proposition to our respective shareholders, workforce and the communities in which we operate," said Newmont President...
Gaining ownership of the Brucejack Mine through the US$2.8 billion buyout of Pretium Resources Inc., Newcrest Mining Ltd. consolidated all the current large-scale gold, silver, and copper production in the Golden Triangle and established Northern British Columbia as a solid foundation for the Australia-based company's growing North American presence. The high-grade Brucejack Mine adds more than 300,000 ounces per year to Newcrest's annual gold production and created synergies...
Newcrest Mining Ltd. Jan. 25 reported a drop in gold and copper production at its two mines in Northern British Columbia during the fourth quarter of calendar year 2022. Newcrest's BC assets include a 70% operating ownership of the Red Chris copper-gold mine, Imperial Metals Corp. owns the remaining 30% interest and full ownership of the Brucejack gold mine. The drop in gold production at Brucejack was anticipated due to a fatality during the quarter that resulted in a 21-day...
The increasing number of electric vehicles charged with renewable energy, connected to 5G networks, and boasting the computing power of 200 laptops to autonomously traverse global highways is creating a meteoric rise in demand for the minerals and metals critical to clean energy and high-tech. Benchmark Mineral Intelligence, the foremost authority on lithium battery supply chains, estimates that more than 300 new mines will need to come online by 2035 – just to produce the c...
Miner fatality at Brucejack puts a hold on plans to ramp up Golden Triangle mining. Newcrest Mining Ltd.'s Red Chris and Brucejack mines in British Columbia's Golden Triangle produced 101,636 ounces of gold and 19.2 million pounds of copper during the third quarter of 2022. The precious and base metals output at the Australia-based company's two Northern BC operations, however, was overshadowed by an Oct. 22 fatality at Brucejack, the newest addition to Newcrest's portfolio....
Victoria Gold Corp. Oct. 17 announced a successful repair of the overland conveyor belt at Eagle and operations have resumed at the company's gold mine in the Yukon. On Oct. 4, Victoria Gold reported that the 1,500-meter overland conveyor belt linking the crushing plant to the heap leach facility experienced a splice failure on Sept. 29. During the belt's replacement, mining, leaching, and gold recovery plant activities remained in operation while crushing, conveying, and...
General Motors, Stellantis, and Tesla moving further up battery supply chain With the batteries powering the electric vehicle revolution demanding more lithium than miners can produce, the price of this lightest metal in the universe rocketed more than 1,000% over the span of two years. This has prompted automakers such as Tesla and General Motors to become more directly involved in the mining and refining of the lithium-ion battery namesake. "Price of lithium has gone to...
"What is the impact of not mining in Alaska?" Liz Cornejo, vice president Dowa Metals & Mining Alaska, asked during the 2022 Alaska's Minerals: A Strategic National Imperative summit. For such a simple question, the implications are enormous. Alaska is practically synonymous with mining. Aside from the strong tourist appeal – which accounts for a large portion of the state's economy – the remaining economic contributors all come from natural resources. Fishing, mining, oil...
While Golden Triangle is an apt and easily marketable moniker for northwest British Columbia's incredible mineral endowment, Tahltan Territory more accurately and thoroughly encapsulates the rich deposits of copper, gold, silver, nickel, platinum group elements, and other metals for which this region has gained international renown. Extending east from the Alaska border to the Cassiar Mountain range and north from the Nass and Skeena Rivers into the Yukon, the roughly...
Tahltan Central Government says Newmont Corp.'s plans to turn over properties to the Tahltan Nation for land use planning does not address all the concerns its people have about the gold mining company's plans for development on a large gold-copper project near the community of Iskut, British Columbia. "The Tahltan Central Government is clear to outside governments, industry and the world that working alongside the Tahltan Nation as true partners is a must. No exceptions,"...
Tahltan Nation Development Corp. and Central Mountain Air Ltd. March 9 announced the finalization of a contract with Newcrest Mining Ltd. for air transportation of crews to and from the Red Chris copper-gold mine in British Columbia's Golden Triangle. "TNDC is honoured to join forces with Central Mountain Air to provide safe, reliable aviation services for this valued client," said Tahltan Nation Development Corp. CEO Paul Gruner. "This is another exciting opportunity for...
In a bid to add the Brucejack Mine to its operations in British Columbia's Golden Triangle, Newcrest Mining Ltd. has entered into an agreement to pay roughly C$3.5 billion (US$2.8 billion) to acquire Pretium Resources Inc. "We are delighted to be expanding our presence in this highly prospective region in British Columbia," said Newcrest Mining Managing Director Sandeep Biswas. "Brucejack is a tier one mine in a tier one jurisdiction and will deliver immediate production,...
With the completion of the buyout of GT Gold Corp., Newmont Corp. has bolstered its portfolio of copper and gold projects in Northern British Columbia and the Yukon. "With the acquisition of GT Gold and the Tatogga project in the highly sought-after Golden Triangle district of British Columbia, Canada, Newmont continues to strengthen our world-class portfolio," said Newmont President and CEO Tom Palmer. Newmont first grabbed a solid foothold in the Golden Triangle with the...
Despite a season challenged by heavy rains and an early snowstorm, the massive amount of exploration carried out in Northern British Columbia during 2021 piled loads of drill core and surface samples on assay labs already severely backlogged by COVID-19 protocols and restrictions that slowed the flow of samples in and data out of these facilities. Just how busy was the 2021 exploration season across the northern half of BC? According to North of 60 Mining News calculations,...
Newcrest Mining Ltd. and Imperial Metals Corp. Dec. 8 reported that drilling continues to cut zones of higher-grade gold and copper within wide sections of porphyry bulk tonnage mineralization at East Ridge, a resource expansion target at the Red Chris Mine in Northern British Columbia. According to a March resource calculation, Red Chris hosts 980 million metric tons of measured and indicated resource averaging 0.41 grams per metric ton (13 million oz) gold and 0.38% (3.7...
A block cave mine at the Red Chris project in British Columbia's Golden Triangle is forecast to produce 316,000 ounces of gold annually over the first six years at a cost of negative US$144/oz after accounting for the value of the 80,000 metric tons of copper also recovered each year, according to a prefeasibility study published by Newcrest Mining Ltd. on Oct. 11. The Australian miner says this engineering and economic study validates its belief that Red Chris is an ideal...
Newcrest Mining Ltd. and Imperial Metals Corp. July 22 reported that the Red Chris mine in Northern British Columbia produced 17.6 million pounds copper and 15,451 ounces gold during the second quarter, compared to 15.9 million lb of copper and 15,850 oz of gold during the first quarter. This nearly 11% increase in copper and nearly par gold production during the second quarter is the result of increased mill throughput and recoveries that was offset by lower head grades of...
