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An interesting piece from 'The Sydney Morning Herald' interviewing Biswas earlier this month:
"Biswas, who has been at the helm of the $23 billion mining company since 2014, has recently been suggested as a potential candidate to take the top job at global miner Rio Tinto after its CEO resigned over the ill-fated decision to blow up an ancient and culturally significant Aboriginal rock shelter site earlier this year.
However, Biswas dismisses this as the usual "speculation" during high-profile CEO searches, saying he is very happy at Newcrest and has work to continue on the legacy he hopes to leave. One is continuously improving safety across the miner's operations. Another is to deliver on more of the company's growth phase. After turning the business around from its struggles in 2013 during lower gold prices and problems at Papua New Guinea's Lihir mine, Biswas believes his plan could position Newcrest for strong growth for decades to come.
"I'm working hard on it, we are all working hard on it at Newcrest," he says. "That would be a great legacy to leave.""
https://www.smh.com.au/business/companies/the-fundamentals-are-strong-gold-still-glitters-for-newcrest-s-sandeep-biswas-20201101-p56ah4.html
This is a great thread and Jambo813 - I like your comment. My thoughts are SB would not only represent a new dawn for RIO's cultural relations in the region, but moreover, I recall reading RIO are interested in increasing their Gold portfolio. An acquisition of NCM and putting SB in the top job would send a strong signal to the Gold majors.
Finally, this would occur when Gold is conceivably at the cheapest it will be once the delayed inflation kicks in from QE already printed, and yet to be printed. RIO know this and want to become a big player. Whether GGP is acquired by NCM before RIO buy NCM or after... its all gravy to me.
This is of course my speculation, but something seems to be brewing and the news cycle is about to kick into overdrive
More value in buying NCM for Rio. Great synergies. Global company. Large skilled workforce. Etc etc. Your blinded by your personal holding of GGP. GGP cannot offer to Rio what Newcrest can, plain and simple.
My opinion fwiw is if SB goes to Rio then GGP will be the takeover target and bypass NCM completely. Maybe sell the rest of havieron to NCM or take the $ from telfer.
Best time to buy Newcrest is when the share price is lower rather than higher, makes it cheaper to buy
Spy, I do not believe for one second RIO major shareholders would entertain any justification for buying a 30 b company if the principal reason is to get their CEO
Particularly when said companies SP has not performed that well in the last year. So madcap a reason that if the offer was for shares in RIO I think that would scare the hell out of NM shareholders no matter how attractive the exchange terms were. Even with new RIO shares worth more than old NM they would worry about the mentality of the RIO board .
Hydrogen can confirm this or anyone from telegram. I posted around 6 weeks ago (just before SB tweeted his was happy to stay) , that Rio were prepared to get him as CEO and would take out NCM if that was the only way to do it.
Imo we will see 2 options
1) Newcrest Hav and Rio Scally.
2) Rio acquire Newcrest and GGP.
Both launch the sp to at least £1.00
"Interesting, if Biswas does end up going to Rio I can foresee that it could easily end up as a bidding war between Rio and Barwick for Newcrest/GGP... easily!! "
“To be honest, if Biswas goes to Rio I would suspect it's in effect a done deal.“
Could GH be holding back the results of Scallywag until the new head of Rio in Aus is known?
If we have more copper than gold at Scallywag it could interest Rio.
Some of us predicted Rio NCM aquisition this will only enhance GGP aquisition Rio want the Copper to!
If Sandeep does go to RIO, his replacement might just be a better friend to GGP.
If and only an if, NM have a better sight of GGPs true / potential value to them with HAV and any other licence AND are playing a strategic longer game regards securing our assets. Any move by Sandeep to RIO will IMO trigger further JVs or a complete buy out as they would be looking to achieve maximum returns for NM shareholders
Timber
I do hope that Sandeep does not go - he is too much of a friend to GGP.
If he did, then NCM would be after a replacement. Whilst Gervais would have to be an outsider, it would probably go to someone with greater experience of handling a mining company.
Just a few more variables to mull over!
..and still speculation, for now.
"It has been almost three months since Rio Tinto’s board bowed to the inevitable and announced the departure of chief executive Jean Sebastien Jacques, and the search for a replacement is about to come to a close.
It is understood the appointment of the next Rio chief executive is imminent. If a new Rio boss isn’t announced next week, then it will be soon after, with the board understood to be weighing the last few names left in the pot of hopefuls in the hope of making a decision by December 11, three months after Jacques’ departure was announced.
The shortlist is a closely kept secret between Rio’s nomination committee and London-based headhunters MWM Consulting, which led Rio’s search.
But industry sources suggest Newcrest Mining boss Sandeep Biswas is at the front of the pack, with other names still believed to be in contention including Anglo American finance chief Stephen Pearce, former Fortescue chief executive Nev Power, former BP CFO Brian Gilvary, and perhaps a handful of others...."
Biswas favourite for Rio top spot.
It is understood the appointment of the next Rio Tinto chief executive is imminent.
https://www.theaustralian.com.au/subscribe/news/1/?sourceCode=TAWEB_WRE170_a_GGN&dest=https%3A%2F%2Fwww.theaustralian.com.au%2Fbusiness%2Fmining-energy%2Fnewcrest-mining-boss-sandeep-biswas-favourite-to-take-over-at-rio-tinto%2Fnews-story%2F665e48ccc6dff6136614e0fb79b0d029&memtype=anonymous&mode=premium