Engineers set off explosions to remove soil while mining for gold in a pit at the Yanacocha gold mine in Cajamarca, Peru. Operations at Yanacocha, South America’s largest gold mine, are a joint venture between Newmont, Minas Buenaventura, and International Finance Corp. Newmont is coming off a record quarter and its chief executive, Tom Palmer, is seeking to broaden the mining company’s ownership base by emphasizing its growing dividend, long-lived assets, rising free cash flow, strong corporate governance, and exposure to a higher gold price.
“Our portfolio is hitting its stride and we’ve built momentum for the fourth quarter, which will be the strongest quarter of the year,” Palmer tells Barron’s .
Palmer, 52, is a fourth-generation Australian miner who got the top job at Denver-based Newmont a year ago. Before Newmont (ticker: NEM), Palmer worked at mining giant Rio Tinto (RIO), which has significant Australian operations.
Newmont is one of the […]
October 31, 2020 (updated October 31, 2020) Published by StockMan