LEADERSHIP

Colombia could be on Peru road, says Newmont chief

LatAm footprint growing in 'safe' jurisdictions

Staff reporter

This article is 6 years old. Images might not display.

Speaking on a conference call, Goldberg said Newmont's latest deal to buy 50% interest of the Galore Creek copper-gold project in Canada did not necessarily reflect a "pivot towards safe jurisdictions" by the company. While Goldberg agreed with an analyst on the call that resource nationalism uncertainty in different parts of the world would be a factor weighed by Newmont in its assessment of investment opportunities, "we continue to go where the best assets and the best potential profile is".

"We've got a footprint that's in four jurisdictions that allows us to take a look at potential opportunities in all those four jurisdictions; Canada being one and we think this is a good [jurisdiction].

"We've just opened up [a Medellin office] in Colombia. We see that as a strategic toehold towards what we see as an improving situation there and something that looks good. Much like we saw with Peru 20 years ago, we see now with Colombia.

"So I wouldn't say we're rushing in any certain direction, we're going where it makes sense.

"I think our view is working alongside Teck [at Galore Creek] makes good sense there, too."

Denver-based Newmont operates South America's largest gold mine at Yanacocha in Peru, and also the Merian mine in Suriname.

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

Mining Journal Intelligence: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.