Toronto Stock Exchange (TSX) announced today that Newcrest Mining Limited (Newcrest), Australia's largest gold producer, began trading this morning under the symbol TSX:NCM. Newcrest is one of the world's leading gold producers and becomes one of the largest companies that trades on TSX by market capitalization.
"We are proud to welcome Newcrest to Toronto Stock Exchange, the world's premier mining marketplace," said Loui Anastasopoulos, President, Capital Formation, TMX Group. "A listing on TSX will provide the company with efficient access to additional investors both in North America and Europe. We look forward to supporting the company as they execute on their international expansion strategy."
Headquartered in Melbourne, Australia, Newcrest owns and operates mines in Australia, Papua New Guinea and Canada. Newcrest has an exciting pipeline of brownfield and greenfield exploration projects and is known for its strong technical capabilities in exploration, deep underground block caving and metallurgical processing.
Newcrest Managing Director and Chief Executive Officer, Sandeep Biswas, said: "A North American listing is part of our strategy of pursuing growth in the Americas following our 70% acquisition of the Red Chris mine in Canada in 2019 and our investments in Ecuador. We have observed an increase in interest from North American investors in the gold sector over the last six months. When combined with our large existing North American shareholder base it makes sense for Newcrest stock to be able to be traded in this time-zone. We believe the TSX listing will improve the global visibility of the Company and broaden our access to the large North American capital pool."
To celebrate the listing, Mr. Biswas and the Newcrest team joined John McKenzie, CEO, TMX Group, this morning to virtually open the market.
As at August 31, 2020, there were 1,129 mining companies listed on both TSX and TSX Venture Exchange, with a combined market capitalization of $523 billion, including 95 international mining companies with a combined market capitalization of $105 billion.
