Leaders.com
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
Business gold and copper mining

With the new acquisition, Newcrest Mining's Cadia Hill Gold and Copper Operation, pictured here, will become part of Nemont's operations. (Photo by Fairfax Media via Getty Images via Getty Images)

By Hannah Bryan Leaders Staff

Hannah Bryan

News Writer

Hannah Bryan is a news writer for Leaders Media. Most recently she was a reporter for the Sanilac County News...

Full bio


Learn about our editorial policy

May 15, 2023

Gold Miners Make Big Copper Investment

The world’s leading gold mining company Newmont is set to acquire Australia’s Newcrest Mining for $17.5 billion—marking Newmont’s largest-ever merger and acquisitions deal in the industry.

Key Details

  • Newmont is predominantly a gold-mining company, but Newcrest has a significant investment in copper mining. Copper is often found near large gold deposits.
  • While both companies invest in copper and gold mining, Newmont’s interest in acquiring a copper-mining operation shows how Newmont is looking to diversify its investment as the gold industry struggles to find new deposits, The Wall Street Journal reports. 
  • Newcrest’s copper deposits also represent a profitable investment as the electric vehicle (EV) industry requires large amounts of copper.
  • On a global scale, the mining industry is experiencing a wave of M&A activity, especially compared to other markets that are relatively quiet.

Why it’s news

Mining industry leaders often seek new mines to replace aging operations, but some of the world’s largest corporations are joining the race for new acquisitions as new legislation and regulations give the EV industry a boost. 

At more than $2,000 an ounce, gold prices are near a record high despite central bank moves to bring them back to historic levels. Commodity prices have remained high since Russia invaded Ukraine, leaving mining companies with more cash to make acquisitions, The Wall Street Journal reports. 

Many of these companies are looking to increase their investments in copper, which is expected to become more valuable as the world moves to renewable energy options. EVs and wind farms require more copper than traditional vehicles or coal-fired power stations. 

Newmont CEO Tom Palmer indicated that Newcrest’s copper investments were one of the main reasons his company looked to make the acquisition. Newcrest also owns sizable investments in other resources that can sustain mining operations for many years, several of which are in low-risk areas such as Canada and Australia.  

“We will still be clearly known as a gold-mining company,” Palmer says. “But we’ll have a good exposure to copper and a growing exposure to copper, and certainly that rationale is landing with everyone that we engage with.”

As the industry demand for copper grows, some experts expect the mining industry will struggle to adjust to companies’ needs. Unlike other materials such as nickel and cobalt, finding a replacement for copper is difficult, The Wall Street Journal reports. 

Paris climate targets will require more than $23 billion in spending on copper over the next 30 years, according to UK consulting firm Wood Mackenzie. Copper prices could jump as demand outpaces supply. 

Home / News / Gold Miners Make Big Copper Investment
Share
FacebookTweetEmailLinkedIn

Related Stories

Wall Street Makes $100 Billion Bet on Weight Loss Pills

by PJ Howland Leaders Staff
Investing

Oct 25, 2023

Ozempic

Investor optimism around a potential blockbuster obesity drug by Structure Therapeutics led to soaring share prices across the weight-loss pharma sector.

Key Details

  • Structure Therapeutics' stock jumped 35% after reporting positive results from early clinical trials of a once-daily weight-loss pill.
  • The experimental drug helped participants lose about 5% of their body weight over one month without side effects, although there are concerns with Ozempic.
  • Analysts predict the global anti-obesity medication market could reach sales of $100 billion by 2030, up from $71 billion currently.
  • With promising growth prospects, investors are betting on companies developing new weight loss drugs like Structure, Eli Lilly, Novo Nordisk, and Pfizer.

Go deeper

FacebookTweetEmailLinkedIn

Seattle Takes The Crown For Advanced Tech Talent

by PJ Howland Leaders Staff
Tech

Oct 24, 2023

Seattle tech talent

Seattle has emerged as the metro area with the most advanced tech talent, beating out tech hubs like San Francisco and Silicon Valley.

Key Details

  • According to a new ranking by the Burning Glass Institute, Seattle has the highest proportion of advanced tech workers compared to other cities with similarly sized tech workforces.
  • The ranking evaluated 60 million high-paying, in-demand tech job postings and histories to identify cities with cutting-edge roles like AI and cybersecurity rather than legacy tech positions.
  • With tech giants Amazon and Microsoft headquartered in Seattle, the city edged out the San Francisco Bay Area, Boston, Austin, and Raleigh on the list.
  • The report found that demand for software developers and IT support specialists has declined over the past five years as companies seek more specialized tech talent.

Go deeper

FacebookTweetEmailLinkedIn

More Americans Can’t Keep Up With Car Payments

by Colin Baker Leaders Staff
Loans and Borrowing

Oct 23, 2023

car loans, used cars

A record number of Americans are behind on their car loan payments as higher interest rates and prices weigh on consumers.

Key Details

  • According to data from Fitch Ratings, 6.11% of car loans were at least 60 days delinquent in September, the highest since tracking began in the early 2000s.
  • Some interest rates on used cars can rise to as much as 21%, according to Bankrate.
  • Soaring prices and rising interest rates are squeezing consumers, making it difficult for some to keep up with their auto loans.

Go deeper

FacebookTweetEmailLinkedIn
Chevron Gas Deal
Markets

Oct 23, 2023

Chevron Makes $53 Billion Deal Amid Surging Gas Prices

by PJ Howland Leaders Staff
nike logo
Company Culture

Oct 20, 2023

Nike to Require More In-Office Days From Employees

by Colin Baker Leaders Staff
blue collar workers
Retirement

Oct 20, 2023

Explaining The ‘C+ Grade’ Retirement Ecosystem in The United States

by PJ Howland Leaders Staff

Recent Articles

Hiring

Nov 1, 2023

Learn the Winning Answers to the Most Common Phone Interview Questions

Come to your next phone interview fully prepared

Personal Growth

Oct 30, 2023

85 Quotes on Self-Love to Boost Your Self-Esteem

Don’t fall into the trap of harsh self-criticism

Company Culture

Oct 27, 2023

What is a Sabbatical? Your Ticket to Restful Growth and Meaning

Sabbaticals can benefits both employees and businesses

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2025 Leaders.com - All rights reserved.

Search Leaders.com