Gold miner Newcrest starts trading on Toronto Stock Exchange

14 October 2020 (Last Updated October 14th, 2020 11:46)

Gold exploration and development firm Newcrest Mining has announced that it had started trading on Toronto Stock Exchange (TSX) under the symbol “NCM”.

Gold miner Newcrest starts trading on Toronto Stock Exchange
Newcrest Mining started listing on the Toronto Stock Exchange. Credit: Khusen Rustamov from Pixabay.

Gold exploration and development firm Newcrest Mining has announced that it had started trading on Toronto Stock Exchange (TSX) under the symbol “NCM”.

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

Newcrest 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.”

Newcrest said it still retains its primary listing on the Australian Securities Exchange and a secondary listing on the PNGX markets.

Earlier this month, Newcrest received conditional approval for its listing on the TSX.

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.