Newmont expects to produce over 1.3 million ounces of gold from its Australian operations this year, with the Boddington gold mine in Western Australia as the top contributor.
Newmont Corporation increased its gold reserves by six million ounces to 94.2 million during 2020 despite facing the challenge of the COVID-19 pandemic.
Newmont Corporation has detailed its long-term outlook for its gold operations globally, including a production increase at the Boddington mine in Western Australia starting 2021.
Surbiton Associates director Sandra Close believes Australia’s gold production in 2020 may surpass last year’s record results despite output dropping in the September quarter.
Australian gold production reached an all-time record of 325 tonnes last year, with a particularly outstanding December quarter, according to Surbiton Associates.
Newmont has approved a $US150 million ($227 million) investment in a Caterpillar autonomous haulage system (AHS) at the Boddington gold mine in Western Australia.
Newmont has achieved the largest gold mineral reserves in the company’s history, thanks to expansion at its Australian operations.
Newmont Goldcorp is set to contribute 1.5 million ounces of production from its Australian operations next year.
Australia’s gold mine output in the September quarter declined by five per cent to 78 tonnes, according to Melbourne-based mining experts, Surbiton Associates.
The Australian dollar gold price has moved above $2300 an ounce for the first time in history as fears surrounding the United States–China trade wars have again impacted global economic markets.
Newmont Goldcorp is advancing an autonomous haulage study at the Boddington gold-copper mine in Western Australia that will potentially see 39 trucks converted using the CAT command system.
Barrick Gold’s hostile $US18 billion ($24.8 billion) takeover offer for Newmont Mining has hit its first hurdle after being unanimously rejected by the target.
Barrick Gold has officially unveiled an offer to merge with Newmont Mining after several days of anticipation it would make a tilt for the gold rival.
The Canadian company has reviewed the opportunity to merge with the United States-based Newmont in an all-share, nil premium transaction.
Newmont Mining has secured a $US10 billion ($13.9 billion) acquisition of Goldcorp in a deal that will form a world-leading gold producer.
Newmont Mining expects to produce 1.5 million ounces of gold in Australia in 2019 due to lower mining rates at the Super Pit and continued stripping at Boddington in Western Australia.
Australian gold production was only a few thousand ounces shy of the previous quarter, totalling 81 tonnes during the third quarter of 2018 and contributing to $16 billion in annual exports.
Australian gold output neared record highs during the 2017–2018 financial year, totalling 310 tonnes, or just under 10 million ounces (Moz). It is the highest output since the 1997–1998 financial year.
Australian gold mine production reached a 17-year high in 2016, according to gold mining consultants Surbiton Associates.