Proxy advisors have recommended Newmont shareholders do the same when they vote April 11. High gold grades were reported by certain previous investigators. The mine has estimated reserves of 4.35 million oz of gold. Moody's says reputational and social risks associated with accidents far outweigh the financial risk for rail operators. Image courtesy of Goldcorp. Grades at Éléonore, a mine in Quebec, also disappointed in the quarter. In a sign of the changes sweeping Canada’s gold mining sector, control of one-time darling Vancouver-based Goldcorp Inc. transferred south of the border on Thursday. A week ago, Goldcorp shareholders also voted in favour of the deal. That would reduce capital costs and permitting requirements at Borden. Superintendent at Hoyle Pond for Porcupine Gold Mines. Continue Reading →.
According to the Ontario Ministry of Northern Development and Mines, the Timmins and Porcupine gold camps have produced 73.3 million gold ounces from inception until the end of 2016. The Porcupine operation alone has produced over 65Moz.
Early gold discoveries in the Porcupine camp were made starting in 1901, followed by the eventual discovery of the gold-rich Dome, Hollinger and McIntyre prospects in 1909. As 2019 kicked-off, Colorado-based Newmont and Canadian-based Goldcorp announced the two companies had struck a deal to merge, in a move that would see them become one of the biggest mining firms in the world. The transaction is dilutive to Newmont shareholders and only Goldcorp shareholders would benefit from the deal’s synergies, Founder John Paulson and Partner Marcelo Kim said in the letter to Newmont Chief Executive Officer Gary Goldberg. Aging infrastructure, low productivity and depleted resources were all cited as factors in the decision. Sale further optimizes world-class portfolio while improving financial flexibility. Methods operations, cost operations, ore …, if someone has resource informations to provide, it will be perfect ! Newmont Mining Corp. shareholders have voted resoundingly in favour of the company’s US$10-billion acquisition of Vancouver’s Goldcorp Inc., removing the last major obstacle to one of the biggest deals ever in the gold sector. , Coordinates: 48°27′46″N 81°14′28″W / 48.4627°N 81.2412°W / 48.4627; -81.2412, "Porcupine - Overview & Operating Highlights", https://en.wikipedia.org/w/index.php?title=Porcupine_mine&oldid=929571205, Creative Commons Attribution-ShareAlike License, This page was last edited on 6 December 2019, at 18:25. Goldcorp Inc to buy Probe Mines for $526 million to win control of northern Ontario's Borden Gold project Back to video One of them was Goldcorp Inc. Continue Reading →. On April 11, Newmont shareholders will weigh in on the transaction in what will be the final major hurdle. The minelife had been extended for 18 months in July 2016. Continue Reading →, All-electric Borden Mine almost ready to open. The company plans to unlock savings in this transaction by transporting ore from Borden to its Porcupine processing facilities. The interval includes a higher-grade 45-metre interval of 1.18% copper, 1.01 g/t gold and 4 g/t silver (2.13% copper-equivalent) from 401 metres. Continue Reading →. ©2019 Republic of Mining. From a public lookout of the open pit to the Newmont acquistion and where the Century Project is at, everything was on the discussion table for Marc Lauzier today. Porcupine Gold Mines, a subsidiary of Goldcorp (NYSE:GG, TSX:G), said last week that mining operations are permanently ending at the Dome underground mine in Timmins, Ontario, 107 years after the mine started up in 1910. Goldcorp Inc. shareholders have voted decisively in favour of the company’s US$10-billion acquisition by Newmont Mining Corp., removing one more roadblock in what would be one of the biggest deals in the history of the gold sector. Paul’s presentation will, technology project currently underway at the mines, ENTRANCE FEE: $10 (Student $5) | MEMBERSHIP FEE: $25 (Student $10) or GOLD Membership $65 (Student $30), Oil, Coal Seen as Winners With Trump Victory, Design 4 Lean Solutions Inc. is now a MineConnect Member, COVID-19 outbreak declared at Young-Davidson Mine, Marathon Gold derisks Valentine with permitting milestone, Call for Papers: Virtual Symposium on Battery Electric Vehicle Safety in Mines, Enhanced Support for Manufacturers to Engage Students, Why Every Judge On Shark Tank Backed This Product from Greater Sudbury, Eyres out, Cazzola in as head of Vale Manitoba Operations, McEwen Mining targets high-grade gold at Black Fox, Porcupine Gold Mines 106 years young – update on operations. He later added: “[I]t’s also about optimizing the business to help me secure investments for some of the other projects that we’re trying to do in the area, including Hoyle, including Hollinger, including Borden, and including eventually Century. The dispute at Penasquito, Mexico’s largest gold and silver mine, has led to losses for public coffers and the firm, as well as lost pay for workers and contractors.
Newmont Goldcorp. New activity in the immediate area such as the Lakeshore Gold (Bell Creek and Vogel) and Temex (Hallnor) programs has enhanced the property’s strategic value in the search for gold mineralization along the “New Mine Trends” currently anchored by Porcupine Gold’s (Goldcorp) Hoyle Pond mine. Shareholders met in Vancouver on Thursday with more than 97 per cent voting in favour. The resulting company features an unmatched portfolio of assets, prospects and talent.
The mine is located in the centre of the country in Timmins, Ontario. Despite having sold quite a few mines recently, Goldcorp expects to produce approximately 2.5 million ounces of gold in 2017 and has set itself some ambitious targets for the next five years. It is now known as part of GoldCorp - Porcupine Gold Mines.The original Dome Mine (Tisdale Township) was discovered by Jack Wilson of the Harry Preston crew in 1909, was still operating as of April 2016. The hedge fund argued that the JV had materially increased the value of Newmont and as a result it should pay less of its own stock for Goldcorp.
Dome’s shutdown, effective December 31, affects about 140 employees – which represents 12% of Porcupine Gold Mines’ workforce. The drilling intercepted multiple zones of gold mineralization, in the majority of holes drilled, with local preliminary assay results in excess of 1 g/t Au. Dome Mine. It is the longest continuously operating mine in Canada and one of three – the others being Hollinger and McIntyre – that started the Canadian mining industry in the early 20th century. Barrick Gold's purchase of Placer Dome. TORONTO (Reuters) – Paulson & Co Inc will not support Newmont Mining Corp’s planned $10 billion takeover of rival Goldcorp Inc as the premium offered is unjustified, the investor said in a letter on Thursday. Continue Reading →.
Borden Lake near Chapleau is opening this year and is an all-battery-electric mine. There, he has been, promoted in engineering roles at Dome and Hoyle Pond Mines plus a one year assignment as a. development general foreman, responsible for the safe, efficient and sustainable development. Of particular interest is the Lake Shore Gold “Timmins West” project and Porcupine Gold Mines’ (Goldcorp) advancement of the Hollinger Project. Earlier this year, the $10-billion merger of Newmont Mining Corp. and Goldcorp was completed, creating a new company – Newmont Goldcorp. So do professional, institutional and ordinary shareholders. After helping to build what was once the most valuable gold mining company in the world, Goldcorp Inc. chairman Ian Telfer is planning to exit on a low-note — albeit $12 million richer. Heidi Vella takes a look at the potential combinations and their possible impact on the North American gold mining sector. Continue Reading →, Assets across the Americas, Africa and Australia. The following month, the firms’ consolidation overcame its first hurdle after it was approved by both Canadian and Korean regulators. Porcupine Gold Mines, a subsidiary of Goldcorp (NYSE:GG, TSX:G), said last week that mining operations are permanently ending at the Dome underground mine in … An equally important part of that strategy is to meet stakeholders’ expectations by continuing to lead the sector in value creation and sustainability performance.” Continue Reading →. The Hollinger Project is under development with production in 2013 and consists of several merging open pits planned to extract the upper reaches of the past producing Hollinger Gold Mine. The Porcupine mine is one of the largest gold mines in Canada and in the world. This portfolio includes long-life operations and profitable expansion and exploration options in some of the world’s most favorable mining jurisdictions. Goldcorp is the world’s leading gold producer operating 10 mines. Newmont Goldcorp previously said the combination should lead to cost savings of US$365-million a year.
Its life is slowly coming to an end this year [when?]
Deals announced in the first half of 2019 topped $39.3-billion, only slightly less than the $40.2-billion worth of deals in all of 2018, a year considered to have been brisk for deal-making by foreigners, according to figures from the law firm Torys LLP. Newmont made a friendly offer in January for Goldcorp in what would be the gold sector’s biggest-ever takeover transaction, a bid to create the world’s largest gold producer. Goldcorp shares rose by 1.8 per cent on Thursday to close at $15.63 apiece on the Toronto Stock Exchange. Newmont Mining Corp. intends to pay its shareholders a one-time dividend worth US$470-million after a number of large investors pushed for the giant miner to renegotiate terms of its takeover of Goldcorp Inc. Newmont shareholders who own stock as of April 17 will be entitled to US$0.88 per share. The transaction, expected to close later this quarter, means Colorado-based Newmont will bypass Toronto’s Barrick Gold Corp. and take the triple crown as biggest gold company in the world by market value, production and reserves. “Evolution is a highly respected and responsible gold producer who is committed to the success of Red Lake and who we believe will prove a great partner for surrounding communities and stakeholders.”, Under terms of the $100 million contingent payment, Evolution will pay Newmont $20 million for each one million ounces of new gold resources added to the existing Red Lake resource base over a fifteen year period. Moneta continues to maintain a large land holding in North Tisdale. However, in a surprise move in February, Newmont received an acquisition proposal from Canadian-based mining behemoth Barrick – one of the largest gold mining companies in the world.
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