A Timmins mine is under new ownership.
Newmont Mining Corporation and Goldcorp have successfully combined to create Newmont Goldcorp Corporation.
"Newmont Goldcorp features an unmatched portfolio of assets, prospects and talent. This portfolio includes long-life operations and profitable expansion and exploration options in some of the world's most favorable mining jurisdictions. Newmont Goldcorp will also offer investors the highest annual dividend and the largest Reserves and Resources per share among senior gold producers," reads the news release.
In January, it was announced that Newmont Mining Corporation was purchasing Goldcorp in a $10-billion deal to create one of the world's largest mining companies.
In Canada, Goldcorp’s assets include Porcupine Gold Mines in Timmins, which comprises the Hoyle Pond underground mine and the Hollinger open-pit mine; Musselwhite Mine, a fly-in complex located 500 kilometres of Thunder Bay; and the Red Lake operations, which include the Red Lake and Campbell underground mining and processing complexes.
The Vancouver-headquartered company also has a number of development projects in the works, including Borden Lake, its first all-battery-electric mine, located near Chapleau; the Century project, a potential large-scale open pit mine and related processing facility in Timmins; and the Cochenour development project, a potential new source of ore located five kilometers from Red Lake.
Newmont is based in Denver, Colorado, and has assets in Africa, Australia, South America and the United States.
Newmont Goldcorp will trade on the New York Stock Exchange with the ticker NEW, and start trading on the Toronto Stock Exchange with the ticker NGT. The company said Goldcorp's common shares should have been delisted from the NYSE before the market opens today, and from the TSC after the market closes April 22.
- With files from Northern Ontario Business
