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Newmont acquires Goldcorp

BY: Suleiman Mustapha
Newmont Goldcorp Ahafo Mine processing plant
Newmont Goldcorp Ahafo Mine processing plant

Newmont Mining Corporation has successfully completed the acquisition of Goldcorp, a gold production company headquartered in Vancouver, British Columbia, Canada, to create the world’s leading gold mining company.

By the acquisition, the name of the mining company has changed from Newmont Ghana to Newmont Goldcorp Ghana.

The transaction, which was sealed on April 18, this year is expected to add up to the company’s production bottom-line in terms of volumes and values.

Long-term value

According to Mr Alwyn Pretorius, Regional Senior Vice President, Africa Operations of Newmont Goldcorp, “the new company features an unmatched portfolio of world-class assets, prospects and talent.

This includes long-life operations and profitable expansions and exploration opportunities in some of the world’s most favourable mining jurisdictions, including Ghana, the Americas and Australia”.

“The depth, quality and scale of our global business will allow us to generate sustainable, long-term value for all of our stakeholders for decades to come.”

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“Our values of safety, integrity, sustainability, inclusion and responsibility will continue to guide how we deliver superior operational service, consistent project schemes and leadership in safety and sustainability,” he added.

In the words of Mr Gary J. Golberg, the Chief Executive Officer (CEO) of Newmont Goldcorp Ghana: “we’ve met our goal to become the world’s leading gold business, and we’ll maintain that position by executing our winning strategy”.

“That strategy is focused on constantly improving safety and efficiency at our current operations while we continue to invest in expansions and explorations to fuel next generation production.

An equally important part of that strategy is to meet stakeholders’ expectations by continuing to lead the sector in value creation and sustainability performance,” he said.

Operating model

Newmont Goldcorp’s President and Chief Operating Officer, Mr Tom Palmer, maintains that “our proven operating model and shared values set the stage for a successful integration process.

Getting this process right is fundamental to realising the full potential of the Newmont Goldcorp combination. Ultimately, our goal is to leverage a more prolific portfolio and an even richer talent pool to generate superior value over the course of decades”.

Newmont Goldcorp Ghana contends that it will continue to advance its purpose to create value and improve the lives of its host communities and the broader Ghanaian economy through sustainable and responsible mining.

Newmont Goldcorp Ghana is the country’s leading gold producer and operates two gold mines, including the Ahafo Mine in the Ahafo Region and the Akyem Mine in the Eastern Region.