SEATTLE (Scrap Monster): Newcrest Mining Limited announced that it has completed the acquisition of Pretium Resources Inc., which owns the Brucejack mine in the highly prospective Golden Triangle region of British Columbia, Canada. Incidentally, Brucejack is one of the highest-grade operating gold mines in the world.
The above said acquisition coupled with the continued development of its outstanding organic growth pipeline, Newcrest expects the company’s base case gold production to remain extremely strong at least until 2030. The production profile is also expected to lead to major reduction in all-in sustaining costs. The addition of Brucejack lifts the company’s exposure to a total of six Tier-1 assets.
Commenting on the development, Sandeep Biswas, Managing Director and CEO, Newcrest Mining said that the company is delighted to have reached this major milestone. Furthermore, he welcomed new shareholders, employees, First Nations partners, local communities and business partners resulting from the transaction.
The exploration team will progress an an extensive drilling campaign across the Brucejack mineral claims. The land package is largely unexplored and the company foresees significant upside potential beyond Valley of the Kings and Golden Marmot. The three-phase transformation program will generate significant long-term value for its shareholders, the company said.