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Newmont CEO is unenthusiastic about prospects for gold price
He sounds content with central bank intervention against monetary metal.
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Newmont Mining CEO Says Goldcorp Deal is Designed to 'Survive' a Drop in Gold Price
By Tom DiChristopher
CNBC, New York
Wednesday, January 16, 2019
Newmont Mining's $10 billion purchase of Goldcorp does not mean the metals miner is making a bullish call on gold, according to CEO Gary Goldberg.
Instead, the global gold and copper miner is seeking to optimize Goldcorp's assets during a period when the cost of the yellow metal has flat-lined and the industry is undergoing significant consolidation.
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"We're designing our business to survive through the cycles in prices. We're not predicting an up or down," Goldberg told CNBC.
"As we go through our longer-term plans, we use a $1,200 gold price and we're really focused on returns and making sure that any project, any business" can justify going forward. ...
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