Japan’s world-first deep sea mining expedition

BY ELIZABETH FABRI   NEWMONT Mining has entered a deal to acquire Canadian gold company Goldcorp for $US10 billion.   The acquisition marked the second large-scale merger in the gold industry in the last six months following Barrick Gold’s landmark purchase of Randgold Resources in September 2018 for $US6 billion. Under the deal, the two miners would form Newmont Goldcorp; the world’s largest gold miner by output, with a portfolio of assets across North and South America, Canada, Australia and Africa. Newmont would acquire each Goldcorp share for 0.3280 of a Newmont share, with Newmont and Goldcorp shareholders to own 65 per cent and 35 per cent of the combined entity respectively. Goldcorp currently operated four mines in Canada, one...

Galileo, the next Fraser Range nickel success story? In December 2019, Legend Mining (ASX: LEG) catapulted to a $200 million market capitalisation after exploration drilling revealed a nickel-sulphide discovery at its Rockford Project’s Mawson Prospect in the Fraser Range nickel belt in Western Australia. The stock doubled in price in a single day on speculation that the exploration drilling was the first sign of Mawson being the region’s “next Nova discovery”. Prior to this, the 2012 discovery of the Nova nickel deposit, also in the Fraser Range nickel belt, shot Sirius Resources to fame, returning shareholders a return of circa 10,000% in a matter of months and led to Sirius’ acquisition by Independence Group (ASX:IGO) for $1.8 billion. Located 50...

South32 (ASX: S32) has lifted Taylor growth capital at its Hermosa project in Arizona by $1.5b (US$1.1b), while pushing first production out to the second half of FY28.