Newmont mega merger with Goldcorp
BY ELIZABETH FABRI NEWMONT Mining has entered a deal to acquire Canadian gold company Goldcorp for $US10 billion. The acquisition marked the second large-scale merger in the gold industry in the last six months following Barrick Gold’s landmark purchase of Randgold Resources in September 2018 for $US6 billion. Under the deal, the two miners would form Newmont Goldcorp; the world’s largest gold miner by output, with a portfolio of assets across North and South America, Canada, Australia and Africa. Newmont would acquire each Goldcorp share for 0.3280 of a Newmont share, with Newmont and Goldcorp shareholders to own 65 per cent and 35 per cent of the combined entity respectively. Goldcorp currently operated four mines in Canada, one in Argentina,…
