Newmont Goldcorp to account for 7.1% of global gold output this year

Newmont Goldcorp Corporation (NYSE: NEM)(TSX: NGT), the world’s largest gold producer by market value, output and reserves, is expected to churn out 8.4 million ounces of the precious metal this year, or 7.1% of the total global output, data and analytics firm GlobalData says.

In comparison, main rival Barrick Gold’s (TSX:ABX)(NYSE:GOLD) output for 2019 is estimated in only 5.6 million ounces, while Kinross Gold (NYSE: KGC) (TSX:K) should produce 2.8 million ounces, the firm notes.

The new gold giant, created after the recent merger of Newmont Mining and Goldcorp, is also expected to the sale between $1 billion and $1.5 billion of assets over the next two years. Until then, most of the company’s operations will be in the Americas (72%), with Canada and the US, collectively accounting for 67.5% of the total assets, followed by Australia (18%), Peru (6%), and Argentina (3.6%), according to GlobalData estimates.

Source: GlobalData, Mining Intelligence Centre.

Newmont Goldcorp’s total production will come from 29 mines currently in operations, while the company advances another 15 projects.

Barrick Gold, in turn, holds 21 operating gold mines and Kinross has 13, according to the analytics company.