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Newmont joins gold ‘staking rush’ in Canada’s once-fabled Yukon

gata.org / By Nicole Mordant / Monday, March 6, 2017

VANCOUVER, British Columbia, Canada — Newmont Mining today became the latest of the world’s biggest gold miners to invest in Canada’s Yukon territory, the site of a famous gold rush 120 years ago, as miners hunt for rich, new deposits in safe regions.

U.S.-based Newmont, the world’s No. 2 gold producer, unveiled an agreement with small explorer Goldstrike Resources to spend $39.5 million to explore and develop Goldstrike’s Plateau property in the Yukon.

With this deal, Newmont follows moves by rivals Goldcorp Inc G.TO and Agnico Eagle Mines last year into the northwestern Canadian territory at a time when gold miners are loosening their purse strings after five years of belt-tightening when bullion prices fell. …