Comment
Author: Admin | 2025-04-27
On the ASX The biggest gold miner on the ASX used to be Newcrest Mining Ltd. It was acquired in late 2023 by global mining giant Newmont in a deal valued at a whopping $26 billion. This was massive news in the Australian mining industry, with Newcrest having been an ASX stalwart since 1987. Newcrest shareholders received 0.4 Chess Depository Interests (or CDIs) in the newly merged entity Newmont Corporation (ASX: NEM) as part of the deal. They received CDIs (and not 'shares') because Newmont is an American company listed on the New York Stock Exchange. From an investor's perspective, Newmont CDIs trade on the ASX like any other share. But they are technically a slightly different financial instrument, giving the holder ownership rights over shares of Newmont (on a one-to-one basis), trading on its primary exchange in New York. The Australian Securities Exchange (ASX) created CDIs to overcome differences in trading rules between countries. This makes it easier for foreign companies to access Australian markets for financing. The CDI structure isn't new – US companies like Block Inc (ASX: SQ2) and Resmed Inc (ASX: RMD) already use CDIs to trade their shares on the ASX. At any rate, Newcrest was delisted from the ASX in October 2023 and replaced by Newmont in early November. This makes Newmont the biggest gold miner on the ASX, with a market cap of $65 billion. The next biggest, Northern Star Resources, has a market cap of just $13 billion. Here, we profile three gold shares ranked in order of market capitalisation from highest to lowest. CompanyDescriptionNewmont Corporation(ASX: NEM)One of the largest gold mining companies in the worldNorthern Star Resources Ltd (ASX: NST)Large mining company with projects in Australia and the United StatesGlobal X Physical Gold (ASX: GOLD)A commodity ETF backed by physical gold Newmont Based out of Greenwood Village, Colorado, global mining giant Newmont is the biggest gold miner in the world. Especially after gobbling up leading Australian gold miner Newcrest in October 2023. Newmont operates in Africa, Australia, North America, Latin America, the Caribbean and Papua New Guinea. The company also produces copper, zinc, lead and silver, but its fortunes rest on gold, with a portfolio that includes more than half of the world's Tier 1 mining assets. Because its portfolio is heavily weighted towards gold mining assets, the company's share price tends to move closely with the gold price. This means
Add Comment