Central Nevada Gold Eyes Further Nevada Acquisitions After Buying Mule Canyon Mine From Newmont, CEO Says
Key Takeaways
- •Privately held Central Nevada Gold has completed its acquisition of the past-producing Mule Canyon gold-silver mine in central Nevada from Newmont.
- •CEO Simon Griffiths said the company plans to evaluate additional precious metals acquisition opportunities across Nevada, indicating the Mule Canyon deal will not be its last.
- •Mule Canyon is an epithermal gold-silver deposit on the Battle Mountain–Eureka trend, where mining occurred in the 1990s and early 2000s before operations ceased.
- •The sale forms part of Newmont's multi-year divestment of non-core assets across Australia, Ghana, Canada and the United States as it focuses on Tier 1 mines, a program that has generated billions of dollars in gross proceeds.
- •A restart of mining at Mule Canyon would remain subject to Nevada state and federal environmental and mining approvals, although the site offers historical drilling data, existing infrastructure and prior permitting records.
Privately held developer Central Nevada Gold will look at acquiring other precious metals assets in Nevada after buying the past-producing Mule Canyon mine from Newmont (NYSE, ASX: NEM; TSX: NGT) earlier this summer, CEO Simon Griffiths said.
The purchase, which closed earlier this summer, gives the company control of a past-producing mine in central Nevada, a state that ranks among the world's leading gold-producing jurisdictions and hosts several major gold trends — the Carlin trend, the Battle Mountain–Eureka trend and the Walker Lane. Nevada accounts for the bulk of U.S. gold output. Mule Canyon itself is an epithermal gold-silver deposit on the Battle Mountain–Eureka trend that was mined in the 1990s and early 2000s before operations wound down.
Newmont, headquartered in Denver, Colorado, is one of the world's largest gold producers and has been one of Nevada's most prominent mining operators for decades. In the state, Newmont holds a 38.5% interest in Nevada Gold Mines, the joint venture operated by Barrick Gold, which owns the remaining 61.5%. Newmont also retains Nevada assets outside the joint venture. The Mule Canyon disposal comes as Newmont has spent recent years divesting non-core assets — including operations in Australia, Ghana, Canada and the United States — as it concentrates capital on its Tier 1 mines, a streamlining program that generated billions of dollars in gross proceeds.
Central Nevada Gold is a privately held precious metals developer focused on assets in the state. According to Griffiths, the Mule Canyon acquisition will not be the company's last, as it intends to evaluate additional precious metals opportunities across Nevada. The deal fits a broader pattern of mid-tier, junior and private operators picking up assets shed by the world's largest gold miners as the majors concentrate on fewer, larger operations. For a buyer, a past-producing site such as Mule Canyon typically comes with historical drilling data, existing infrastructure and prior permitting records, though any restart of mining would still be subject to Nevada state and federal environmental and mining approvals.
This report was published by The Northern Miner on Aug. 21, 2026.
