Newmont Mining Has Huge Exposure to Europe
Possibly of all the mining companies, Newmont Mining (NYSE:NEM) has to be trembling in light of the sovereign debt crisis in Europe, which Greece now the face of, but a number of countries could easily follow.
The reason why Newmont Mining has the potential to be a major problem is a huge 72 percent of all its revenue comes from Europe.
So if things spread beyond Greece, which they have a very good chance to, Newmont Mining could get clobbered as a result.
Newmont isn't the only company with significant exposure to Europe, as a large number of companies which considered them safe could take a beating over the next several years if Portugal, Ireland, Italy or Spain experience sovereign debt problems close to the magnitude of Greece. Any one of them could, and it bears going over your portfolio to see how exposed your companies are to the continent.
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