Newmont Acquiring Goldcorp in $10 Billion Merger

Merger image

CBJ — Shareholders at Newmont Mining have approved the company’s $10 billion takeover of Goldcorp, which will make the combined entity the largest  gold producer in the world with key assests across the Americas, Africa and Australia.

Goldcorp shareholders voted to accept the offer last week.

The merged company will be named Newmont Goldcorp, and will overtake Barrick Gold as the world’s largest gold company in annual production, producing 6 million to 7 million ounces of gold annually over the next 10 years, compared with Barrick’s forecast of 5.1 million to 5.6 million ounces for 2019.

Newmont Goldcorp expects to shed between $1 billion and $1.5 billion of assets to focus on its core revenue-generating operations.

@CanBizJournal

 

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