Newmont may lift dividend as gold's rally bolsters debt repayments

Newmont Mining will consider increasing dividends as gold's rally to a two-year high and asset sales put the world's second-biggest bullion producer ahead of schedule on its debt-reduction target, according to the Sydney Morning Herald.

“Even if prices were to sustain themselves where they're at today, versus where they were at the beginning of the year, we'd see an additional billion in free cash flow,” Newmont CEO Gary Goldberg said. “We'll be able to move forward with our debt repayment plans a little bit sooner.”

Miners urged to better manage volatility

The Australian Financial Review reports that mining companies need to act faster to eradicate the “excesses of the boom” in order to survive ongoing commodity price volatility and global economic uncertainty, according to EY.

In a report released on Thursday, EY urged miners to turn a sharper focus to cost reduction, productivity improvements and balance sheet strength in light of recent events, including the Brexit vote and Australian election, which had increased uncertainty.

Piper Alderman merger eyes off growth in resource sector

The slump in Australia's resource sector has not deterred mid-tier commercial law firm Piper Alderman from merging with a boutique firm specialising in the area, Watsons Lawyers, according to the Australian Financial Review.

Despite oil prices crashing to a 12-year low in late January and the drop in commodity prices triggering a sharp cutback in capital investment, Piper Alderman national managing partner Tony Britten-Jones insisted the move to merge made “good sense”

“I don't see the downturn in the energy and resource sector as a trend, it's part of a cycle,” Britten-Jones said.