The company employs about 16,000 people, including long-term contractors, and it’s one of the world’s top 5 gold mining companies by production, reserves and market capitalization.
When Newcrest wanted to expand its access to the global investment community, it sought a listing on Toronto Stock Exchange.
“TSX is one of the most active markets in the world for resource companies,” says Newcrest CEO Greg Robinson, “and particularly for gold producers.”
Newcrest traces its history back to 1966, when Newmont Mining Limited established an Australian subsidiary. After acquiring Australmin Holdings Ltd. and a subsequent merger with BHP Gold Limited, the company changed its name to Newcrest in 1990.
Operating now in Australia, Indonesia, Papua New Guinea, Fiji and Africa’s Ivory Coast, the company focuses on low-cost, long-life mines while developing growth projects and highly prospective brown and greenfield exploration projects. Its current gold reserves represent more than 25 years of future production.
With its listing on TSX, Newcrest became the 4th largest mining company on the exchange, and the 22nd largest listed company by market capitalization. Its current assets amount to more than $1.5 billion. The company sells most of its copper-gold concentrate under long-term contract to smelters in Japan, and sells its processed pure gold bullion to Asia’s metal market. Newcrest also operates in the sale of concentrate to merchants who deliver the material to regional smelters under their own contracts.