Newmont Poised to Oust Barrick as World’s Top Gold Producer – by Danielle Bochove (Bloomberg News – December 6, 2017)

https://www.bloomberg.com/

Newmont Mining Corp.’s Gary Goldberg has the title of world’s biggest gold producer within his grasp. The chief executive officer raised his 2018 production forecast to a range of 4.9 million to 5.4 million ounces.

That exceeds Barrick Gold Corp.’s 2018 guidance of 4.8 million to 5.3 million given in February, which doesn’t include the impact of the sale of 50 percent of a mine in Argentina.

While Newmont is already ahead of Barrick by market value, the midpoints of the two companies’ 2017 guidance indicate Barrick will keep Newmont at bay this year in terms of output. That’s not the case in the following years.

Growth was a central theme in Newmont’s investor-day presentation in New York on Wednesday, with executives saying the company is better positioned to expand than peers.

In addition to growing existing operations in the Americas, Africa and Australia, it’s pursuing greenfield exploration around the world, including in Canada’s Yukon, Colombia, Peru, Ethiopia, Australia and the Guiana Shield.

For the rest of this article: https://www.bloomberg.com/news/articles/2017-12-06/newmont-sees-18-attributable-gold-production-4-9m-5-4m-oz

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