Newcrest hopes more profit after the Lihir takeover

Newcrest hopes more profit after the Lihir takeoverAfter Newcrest mining company took over the management of Lihir Gold and the Chief Executive of Newcrest has also expressed his contentment over the deal. In a statement he has said that now the company is the
4th largest mining company in the world and 10th largest organization in Australia.

After this merge, the company's net market price is of 26 billion dollars now. The Chief of the firm, Ian Smith has said that if any company want to associate with it then they will welcome but it has be done in a professional manner.

As per the report, the company is now over fifty percents sizes of the Barrick and just a little behind Newmont.

The CEO has also said that the recent price of gold is more than 1200 US dollar per ounce. Due to this price, more mergers between the companies may take place.

Newcrest has invested 10 billion dollars for the Lihir takeover. However, the Chief Executive is now sure that the company shares will increase after the successful merge. The company hopes to get more than 50 million dollar profit in coming year with this move.

General: 

Advertisements