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Newmont CEO is unenthusiastic about prospects for gold price

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Published : January 03rd, 2021
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Category : GoldWire

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Newmont Mining CEO Says Goldcorp Deal is Designed to 'Survive' a Drop in Gold Price

By Tom DiChristopher
CNBC, New York
Wednesday, January 16, 2019

Newmont Mining's $10 billion purchase of Goldcorp does not mean the metals miner is making a bullish call on gold, according to CEO Gary Goldberg.

Instead, the global gold and copper miner is seeking to optimize Goldcorp's assets during a period when the cost of the yellow metal has flat-lined and the industry is undergoing significant consolidation.

"We're designing our business to survive through the cycles in prices. We're not predicting an up or down," Goldberg told CNBC.

"As we go through our longer-term plans, we use a $1,200 gold price and we're really focused on returns and making sure that any project, any business" can justify going forward. ...

... For the remainder of the report:

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
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