Mining News

Newmont's Acquisition of Newcrest Creates Gold Mining Giant.

Newmont, the world's largest gold miner, has entered into a definitive agreement to acquire Newcrest, the eighth largest gold miner, in a deal that will see Newcrest shareholders receive 0.400 Newmont shares for each Newcrest share and a special dividend of up to $1.10 per share paid by Newcrest, representing a 30.4% premium. The transaction is still subject to shareholder approval. The acquisition is expected to create an industry-leading portfolio with a multi-decade gold and copper production profile in the world’s most favorable mining jurisdictions, and deliver an estimated $500 million in annual synergies and an estimated $2 billion in incremental cash flow from portfolio optimization opportunities.