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.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

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.