Expect wave of mergers as executives seek to maintain margins amid higher production costs, declining grades of gold
Marrone’s comments echo the views of other grandees of the gold industry, including Tom Palmer, who heads the world’s largest gold miner, Newmont Corp. Palmer told the Prospectors and Developers Association of Canada conference in June that gold miners would need to consolidate if they wanted to survive a future that will involve getting by with mines that yield low-grade ores and higher expenses related to climate change.
Aside from the sale of Yamana, which has properties and mines in Canada, Brazil, Chile and Argentina, there have been at least eight notable combinations since 2018, whenAt 63, Marrone isn’t ready to retire. He said he is keen to continue looking for mining projects that he believes he can turn around for a profit or optimize. He said he is also open to exploring the critical minerals sector, despite having worked in the gold industry for the last two decades.
Still, Marrone has already committed to working with a company that he said he believes owns one of the largest silver-tin deposits in the world. Tin might not be a shiny as gold, but it’s one of the 31 critical minerals listed in
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Yamana's Peter Marrone says gold miners will keep merging and tin is the next big thingExpect wave of mergers as executives seek to maintain margins amid higher production costs, declining grades of gold
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