Canadian Mining Journal


Top 10 US-based mining companies

Mining in the United States has been ongoing for centuries and has played a role in the country’s development over the years. The Northern Miner presents its annual Top 10 listing of the largest U.S.-based mining companies, which are ranked by market capitalization, as of July 24, 2020.

1. Newmont

Market cap: US$53.6 billion

Newmont (TSX: NGT, NYSE: NEM) is one of the world’s largest gold producers, with operations in the Americas, Africa and Australia.

Over the next decade, the company’s guidance is for 6 million oz. to 7 million oz. annual gold output, with an additional contribution expected from 1.2 million to 1.4 million oz. gold-equivalent each year.

The company’s business model is built around the concept of ‘world-class’ assets, which it defines as gold operations producing at least 500,000 oz. gold-equivalent annually on a consolidated basis at all-in sustaining costs (AISCs) of under US$900 per ounce. In addition, in order for a mine to meet this threshold, it needs to have a life greater than 10 years and be within a ‘top-tier’ jurisdiction, based on credit agency ratings.

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