You are here

Newmont CEO is unenthusiastic about prospects for gold price

Section: Daily Dispatches

He sounds content with central bank intervention against monetary metal.

* * *

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.

... Dispatch continues below ...


ADVERTISEMENT

Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata



"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:

https://www.cnbc.com/2019/01/16/newmont-says-goldcorp-deal-designed-to-s...

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16