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"[Newmont is] laser-focused on long-term value creation"

Gold major Newmont Goldcorp (NYSE: NEM) says its “Full Potential” programme has delivered more than US$2 billion in improvements since 2013.
"[Newmont is] laser-focused on long-term value creation" "[Newmont is] laser-focused on long-term value creation" "[Newmont is] laser-focused on long-term value creation" "[Newmont is] laser-focused on long-term value creation" "[Newmont is] laser-focused on long-term value creation"

Gold major Newmont Goldcorp says it is building improvements

Staff reporter

It said last week the programme was "transforming" its Boddington gold operation in Western Australia, such as the strategy to reduce the number of annual plant shutdowns from four to three.

"We continue to be laser-focused on long-term value creation for all of our stakeholders," Newmont Goldcorp said in its blog.

"Our technology programme also continues to accelerate based on value and viability, and we're applying lessons learned to inform our approach as we move forward."

The enlarged company, which merged with Goldcorp earlier this year, is targeting stable production of 6-7 million ounces of gold annually "over [a] decades-long time horizon".

Newmont has experienced various issues at former Goldcorp assets. 

Newmont's share price performance in 2019 has lagged behind the other gold mega-merger of Barrick Gold and Randgold Resources, which came into effect on January 1.

Newmont's share price is up 14.36% year-to-date and it has a market capitalisation of $31.7 billion.

Barrick's New York-traded shares, under the GOLD ticker, are up 31.98% over the same period, giving it a similar market value of $31.3 billion.

The two majors formed a joint venture over some of their Nevada operations mid-year, with the agreement ending a hostile takeover bid by Barrick which had threatened Newmont's Goldcorp merger.