Australian gold miner Newcrest Mining Ltd has the firepower for more acquisition...
- Australian gold miner Newcrest Mining Ltd has the firepower for more acquisitions, its chief executive said, after the company announced a deal to buy a copper and gold mine in Canada for $806.5 million.
“If you look at the balance sheet metrics we are still well within our financial metrics,” Newcrest chief executive Sandeep Biswas told Reuters. “If something were to come up that is of interest then we certainly don’t see ourselves as restricted.” “We think it’s a good move,” said analyst David Lennox of equity research firm Fat Prophets based in Sydney.
The purchase would allow Newcrest to leverage its block cave mining expertise in a top tier mining jurisdiction, and offered plenty of exploration potential, Biswas said.
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