{"id":4113,"date":"2023-03-11T03:05:52","date_gmt":"2023-03-11T03:05:52","guid":{"rendered":"https:\/\/northamericanmining.com\/?p=4113"},"modified":"2023-03-11T03:05:55","modified_gmt":"2023-03-11T03:05:55","slug":"newmont-proposes-newcrest-us16-9-billion-takeover","status":"publish","type":"post","link":"https:\/\/northamericanmining.com\/index.php\/2023\/03\/11\/newmont-proposes-newcrest-us16-9-billion-takeover\/","title":{"rendered":"Newmont proposes Newcrest US$16.9 billion takeover"},"content":{"rendered":"

\"\"<\/p>\n\n\n

In a move to combine two of the top senior gold producers, U.S.-based Newmont has submitted a non-binding proposal to acquire 100% of the issued share capital of Australian peer Newcrest Mining by way of a scheme of arrangement.<\/p>\n\n\n\n

If successful, it would be the largest mining takeover and the third-largest corporate buyout in Australian history, according to Refinitiv data. The newly combined company would produce nearly twice as much gold as closest rival Barrick Gold.<\/p>\n\n\n\n

Newmont\u2019s $16.9 billion offer is on the basis of 0.38 Newmont shares per Newcrest share, giving Newcrest shareholders a 30% stake in the company. <\/p>\n\n\n\n

\u201cWe believe a combination of Newmont and Newcrest presents a powerful value proposition to our respective shareholders, workforce and the communities in which we operate,\u201d said Tom Palmer, president and CEO of Newmont.\u00a0<\/p><\/blockquote>\n\n\n\n

\u201cThe proposed transaction would join industry-leading portfolios of assets and projects to create long-term value across the combined global business, and we welcome the consideration of Newcrest\u2019s board of directors.\u201d<\/p>\n\n\n\n

Newcrest, which was spun out of Newmont in the 1990s, has said it is considering the proposal. The miner\u2019s assets include the Cadia gold-copper operation in New South Wales, Australia; Brucejack gold-silver and Red Chris gold-copper mines in British Columbia, Canada; Lihir gold mine in Papua New Guinea; and the Telfer gold-copper mine in Western Australia.<\/p>\n","protected":false},"excerpt":{"rendered":"

In a move to combine two of the top senior gold producers, U.S.-based Newmont has submitted a non-binding proposal to acquire 100% of the issued share capital of Australian peer Newcrest Mining by way of a scheme of arrangement. If successful, it would be the largest mining takeover and the third-largest corporate buyout in Australian history, according to Refinitiv data.…<\/p>\n","protected":false},"author":1,"featured_media":4115,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12],"tags":[170,186,1704,715,1190],"coauthors":[1644],"class_list":["post-4113","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-headlines","tag-barrick-gold","tag-copper-mine","tag-gold-copper-operation","tag-newcrest-mining","tag-newmont"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t