Newmont boss Tom Palmer says Western Australia’s Telfer gold mine is “coming home” after wrapping up his Newcrest acquisition, challenging speculation that Telfer is headed for the auction block.

Broken Hill-born Mr Palmer has flagged selling mines and delaying projects to find $US2 billion ($3 billion) in cash after a challenging year for the world’s biggest miner that has included a four-month strike at its Penasquito mine in Mexico.