Receive our newsletter – data, insights and analysis delivered to you
  1. News
October 6, 2020

Newcrest wins conditional approval to list on Toronto Stock Exchange

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.

By Matthew Hall

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.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The mining industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU