Newcrest to grow presence in Americas with Toronto listing

The Red Chris mine. Image: Newcrest Mining.

Newcrest Mining plans to list on the Toronto Stock Exchange (TSX) as part of a strategy to build a stronger position in the Americas.

The Australian-based miner has been granted a conditional approval to be listed on the TSX on October 13 (Canada time) and will be subject to meeting customary conditions.

Newcrest managing director and chief executive Sandeep Biswas said the expansion strategy followed the company’s acquisition of the Red Chris mine in Canada.

“A North American listing is part of our strategy of pursuing growth in the Americas following our 70 (per cent) acquisition of the Red Chris mine in Canada in 2019 and our investments in Ecuador,” he said.

“We have observed an increase in interest from North American investors in the gold sector over the last six months. When combined with our large existing North American shareholder base it makes sense for Newcrest stock to be able to be traded in this time-zone.

“We believe the TSX listing will improve the global visibility of the company and broaden our access to the large North American capital pool.”

No equity is planned for the listing, with Newcrest expecting to meet all conditions to proceed with the TSX listing.

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