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1) With more merger and acquisition news, Newmont Gold proposed a $7 billion takeover of Australia's Newcrest Mining, as it makes its second attempt as an earlier proposal was too low and rejected. Newmont, a Colorado-based gold miner, is aiming to accomplish one of the biggest deals for a global gold miner as the industry is struggling to make new discoveries. In 2019, Newmont acquired Canadian gold producer Goldcorp that was valued at $10 billion, while also creating a joint venture with Barrick Gold in Nevada to cut costs. Newmont says that its company and Goldcorp are complementary and that a combined entity could "set the standard for sustainable and responsible gold mining," with Newcrest having mine in Australia, Canada and Papua New Guinea. “We believe a combination of Newmont and Newcrest presents a powerful value proposition to our respective shareholders, workforce and the communities in which we operate,” Newmont Chief Executive Tom Palmer said in a statement. Newcrest's portfolio of mines is low cost and some of the world's largest, being able to run about 22 years before depletion, well above the most of its competitors, which have all attractive features for Newmont for an acquisition according to Barrenjoey, an Australian investment bank.
2) The National Mining Association (NMA) says that it is time for the US to "walk the talk" on minerals security as the US is more reliant than ever for minerals that are used in manufacturing, energy, transportation and energy. “We have never been more dependent on China and others for the minerals that are absolutely essential to modern life, and with each new announcement of a blocked mine or a foreign sourcing agreement with countries that have questionable labor practices, we are locking in our position of competitive weakness,” Katie Sweeney, NMA executive VP and COO, says. In 2022. the United States Geological Survey (USGS) report shows that imports made up over 50% of the US apparent consumption for 51 nonfuel mineral commodities and 100% net import of 15 nonfuel commodities. The NMA also points out that China was the leading source of mineral commodities, providing 26 of them, with significant imports from Russia as well.