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Newmont’s Incoming CEO Says No ‘Fire Sale’ Coming for Assets

  • Palmer says miner may not reach goal of $1.5 billion sales
  • Company is focusing on optimizing current assets, he says
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Incoming Newmont Goldcorp CEO Doesn't See Much M&A Chatter in Gold(Source: Bloomberg)
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Newmont Goldcorp Corp. is ready to sit tight on asset sales, even if that means not reaching a previously announced goal of as much as $1.5 billion in divestments.

That’s according to Tom Palmer, the company’s incoming chief executive officer. The world’s largest gold producer will be focusing on optimizing its current assets and is happy overall with its portfolio, other than a previously announced sale of Red Lake in Canada, he said.