Newcrest wins conditional approval to list on Toronto Stock Exchange

6 October 2020 (Last Updated October 6th, 2020 13:59)

Gold miner Newcrest Mining has received conditional approval for its listing on the Toronto Stock Exchange (TSX), subject to meeting “customary conditions” before it gets listed on TSX.

Newcrest wins conditional approval to list on Toronto Stock Exchange
The company is expected to begin listing on the TSX from 13 October. Credit: Khusen Rustamov from Pixabay.

Gold miner Newcrest Mining has received conditional approval for its listing on the Toronto Stock Exchange (TSX), subject to meeting “customary conditions” before it gets listed on TSX.

The company is expected to begin listing on the TSX from 13 October if it meets the conditions.

However, Newcrest said it would retain its primary listing on the Australian Securities Exchange and secondary listing on the PNGX markets.

Newcrest Mining managing director and CEO Sandeep Biswas said: “A North American listing is part of our strategy of pursuing growth in the Americas following our 70% acquisition of the Red Chris mine in Canada in 2019 and our investments in Ecuador.

“We have observed an increase in interest from North American investors in the gold sector over the last six months. When combined with our large existing North American shareholder base it makes sense for Newcrest stock to be able to be traded in this time-zone.

“We believe the TSX listing will improve the global visibility of the Company and broaden our access to the large North American capital pool.”

The TSX listing does not include an equity offering, said Newcrest.

On its website, Newcrest claims that it is the largest gold producer listed on the Australian Securities Exchange. It is also one of the world’s largest gold mining companies.

In 2017, Newcrest joined the International Council on Mining and Metals (ICMM), an international organisation that brings together 25 mining and metals companies to a “fair and sustainable” mining and metals industry.