Chanticleer
Inside Newmont’s copper-tinged pitch to Aussie investors
On the eve of his takeover of Newcrest, Newmont CEO Tom Palmer wants to make it clear the gold giant has more than one string to its bow.
Tom Palmer, the Australian-born CEO of $44 billion gold miner Newmont, is getting ready to upgrade his membership to his beloved Richmond Tigers AFL club. With Newmont likely to complete its $28 billion takeover of local gold miner Newcrest in the coming weeks, Palmer is planning to be a much more frequent visitor Down Under in the coming years.
While companies with secondary listings in Australia often seem to struggle to engage local investors – think Square following its Afterpay takeover, or Unibail-Rodamco following its Westfield deal in 2018 – Palmer is determined to court what he sees as a supportive market.
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