Newcrest Mining acquires Tier 1 gold mine in Canada

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Newcrest Mining has completed the acquisition of Pretium Resources, which owns the Brucejack mine in the highly prospective Golden Triangle region of British Columbia, Canada.

Brucejack commenced commercial production in July 2017 and is considered to be one of the highest-grade operating gold mines in the world.

Newcrest’s Managing Director and CEO, Sandeep Biswas, welcomed the addition of a Tier 1, large scale, long life, low-cost mine in a world-class jurisdiction to Newcrest’s unrivalled asset portfolio.

He said the company plans to initiate a three-phase transformation program to optimise operations, realise full uplift potential and grow the Mineral Resource.

Adertisement

“We will pursue efficiencies to simplify mining and increase productivity through a holistic view of the Brucejack operations and orebody,” Mr Biswas stated.

“In parallel, our exploration team will be progressing an extensive drilling campaign across the Brucejack mineral claims which make up one of the largest epithermal footprints we have ever seen.

The land package is largely unexplored and very early in its life, and we see significant upside potential beyond Valley of the Kings and Golden Marmot.

“The combined team is driven and has the capability to deliver our three-phase transformation program which we believe will generate significant long-term value for our shareholders.”

Image credit: https://www.newcrest.com/our-assets/red-chris