- In 1962, Newmont revolutionized the gold mining industry with the world’s first discovery of submicroscopic or “invisible gold.”
- Newmont helped found the ICMM, promoting sustainable development and social responsibility in mining.
Recent Features :
Our Business
Our People
Our Values
Our Environment
Newmont Acquires Fronteer Gold
Index of Features
- 1 of 8
- ››
Denver, Colorado
Following shareholder and regulatory approval, Newmont has acquired Vancouver-based Fronteer Gold for roughly $2.3 billion, expanding our development opportunities in Nevada.
Fronteer holds interests in three Nevada gold projects, which currently have 5.7 million ounces of measured, indicated and inferred resource. Its flagship property, Long Canyon, is located on a gold trend that is similar to the Carlin Trend in terms of its characteristics and potential. Based on exploration potential, the current 2.2 million ounces of measured, indicated and inferred resource at Long Canyon could double or triple in size.
"The acquisition of Fronteer Gold will contribute significantly to our anticipated growth profile in North America," said Richard O'Brien, president and CEO. "The Long Canyon project, with its Carlin trend-like metallurgical and geological characteristics, complements our existing project pipeline in Nevada. This combination of assets will allow Newmont to leverage our expertise and extensive infrastructure in the region."
As part of the acquisition agreement, Fronteer has spun off its other exploration properties in Nevada, Turkey and Peru and form a new entity, Pilot Gold. Newmont holds a 19.9 percent interest in that company with Fronteer's existing shareholders owning the balance.
April 18, 2011