{"id":5268,"date":"2023-07-25T15:18:29","date_gmt":"2023-07-25T15:18:29","guid":{"rendered":"https:\/\/northamericanmining.com\/?p=5268"},"modified":"2023-07-25T19:15:01","modified_gmt":"2023-07-25T19:15:01","slug":"newmont-moves-closer-to-finalizing-newcrest-takeover","status":"publish","type":"post","link":"https:\/\/northamericanmining.com\/index.php\/2023\/07\/25\/newmont-moves-closer-to-finalizing-newcrest-takeover\/","title":{"rendered":"Newmont moves closer to finalizing Newcrest takeover"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-4115\" src=\"https:\/\/northamericanmining.com\/wp-content\/uploads\/2023\/03\/newcrest.png\" alt=\"\" width=\"800\" height=\"465\" srcset=\"https:\/\/northamericanmining.com\/wp-content\/uploads\/2023\/03\/newcrest.png 1002w, https:\/\/northamericanmining.com\/wp-content\/uploads\/2023\/03\/newcrest-768x447.png 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n\n\n<p class=\"wp-block-paragraph\">U.S.-based Newmont said that the Canadian Competition Bureau issued a \u201cno action\u201d letter clearing its previously announced acquisition of Newcrest Mining under Canadian competition law as the miner progresses toward receiving regulatory approvals in other jurisdictions for a fourth-quarter closing.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On May 14, Newmont announced a definitive agreement to acquire Newcrest for $17.4 billion. The deal creates a world-class portfolio of assets with the highest concentration of Tier 1 operations, primarily in favorable, low-risk mining jurisdictions.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Upon closing, the newly combined company will deliver a multi-decade production profile from 10 low-cost, Tier 1 operations and increased annual copper production primarily from Australia and Canada.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Newmont said the combined business should generate annual pre-tax synergies of $500 million within the first 24 months, while also targeting at least $2 billion in the first two years after closing through portfolio optimization.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Newcrest\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\n\n\n<p class=\"wp-block-paragraph\"><em>Source: <\/em><a href=\"https:\/\/www.newmont.com\/\"><em>Newmont<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S.-based Newmont said that the Canadian Competition Bureau issued a \u201cno action\u201d letter clearing its previously announced acquisition of Newcrest Mining under Canadian competition law as the miner progresses toward receiving regulatory approvals in other jurisdictions for a fourth-quarter closing.&nbsp; On May 14, Newmont announced a definitive agreement to acquire Newcrest for $17.4 billion. The deal creates a world-class portfolio&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"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_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":[495],"tags":[2185,2187,1704,715,2186],"coauthors":[1644],"class_list":["post-5268","post","type-post","status-publish","format-standard","hentry","category-latest-news","tag-canadian-competition-bureau","tag-gold-copper-mines","tag-gold-copper-operation","tag-newcrest-mining","tag-western-australia"],"aioseo_notices":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/posts\/5268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/comments?post=5268"}],"version-history":[{"count":2,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/posts\/5268\/revisions"}],"predecessor-version":[{"id":5270,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/posts\/5268\/revisions\/5270"}],"wp:attachment":[{"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/media?parent=5268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/categories?post=5268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/tags?post=5268"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/coauthors?post=5268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}