Newmont’s Newgold Acquisition Results in 16% Job Cuts

US-based gold mining company Newmont completed the restructuring process after the acquisition of Newcrest in 2023. The restructuring process impacted over 16% of its global workforce. In other news, US-based Coeur Mining announced the acquisition of Newgold for over US$7 billion. Coeur Mining considers Newgold’s assets are expected to lower its production costs and improve profit margins. 

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Newmont Cuts 16% of Workforce as Part of Newcrest Integration

Newmont has completed a restructuring that affected approximately 16% of its global workforce. This restructuring follows Newmont's acquisition of Australian mining company Newcrest Mining for US$17 billion in 2023, a deal that was expected to result in thousands of job losses.

Heliostar Metals’ Ana Paula PEA Eyes 101,000oz/y Gold Production

Heliostar Metals announced the results of a Preliminary Economic Assessment (PEA) for a potential underground mine development at its Ana Paula Project in Guerrero. Using a base case gold price of US$2,400/oz, the study outlines a post-tax Net Present Value (NPV) at a 5% discount rate of US$426 million, a post-tax Internal Rate of Return (IRR) of 28.1%, and a payback period of 2.9 years. The initial capital expenditure (CAPEX) to bring the mine into production is estimated at US$300 million.

Senate Committees Advance Approval of Mining Safety Convention

Mexico’s Senate committees have approved a draft resolution supporting the ratification of the International Labour Organization’s (ILO) Convention 176 on Safety and Health in Mines, marking a step toward strengthening protections for workers in one of the country’s most hazardous industries.

Clean Minerals: The Catalyst for Latin America’s Energy Future 

Eva Escamilla, LATAM Head, Carbon Trust, stresses that Latin America, despite holding the majority of the world's critical minerals for the energy transition, remains heavily dependent on fossil fuels. She argues that decarbonizing mining is no longer just an environmental imperative but a competitiveness strategy, as mechanisms like Europe's Carbon Border Adjustment Mechanism (CBAM) will soon penalize high-carbon imports, forcing the region to lead in sustainable production or risk losing market access.

Coeur Mining, New Gold Join Forces

Coeur Mining announced the acquisition of New Gold in an all-stock transaction valued at approximately US$7 billion, forming a major North American mining company. Coeur said the acquisition will strengthen its balance sheet, enhance cash flow, and provide greater operational flexibility. The addition of New Gold’s assets is anticipated to lower production costs and improve profit margins.