Chief Executive Gary Goldberg said on an analyst call the combined company is targeting production of 6 million to 7 million ounces of gold annually.
Goldcorp Mining News
The deal also will be voted on by Newmont shareholders next Thursday. If approved, the deal is expected to close by June.
Small miners are finding it increasingly difficult to raise capital to fund new ventures despite the positive demand outlook for several commodities.
After promising to sweeten the pot with the largest dividend in 32 years, Newmont has won over two of its biggest investors to the merits of a $10B merger with Goldcorp.
Argentina is eyeing its first major new mining project in two decades, nudged forward by President Mauricio Macri’s market-oriented policies.
British Columbia Investment Management Corporation will vote against the proposed merger of Goldcorp and Newmont due to Goldcorp’s decision to award its chairman a $12m retirement allowance.
Mounting investor concerns sent Goldcorp shares tumbling in New York.
Goldcorp’s attempt to top-up its chairman’s retirement haul has met significant resistance.
Mega-mergers by Canada’s two largest gold companies, Barrick Gold Corp. and Goldcorp Inc., stand to erode its global influence.
Mining stopped on March 8, when members of the Asociación Obrera Minera Argentina (AOMA) downed tools, and processing activities have now also ceased following the exhaustion of surface stockpiles.
After more than a week of tough talk firing back and forth, the leaders of the two biggest gold producers are finally coming to the table.
Barrick and Newmont have far more to gain from cooperating than bickering with each other.
"The current market is reminiscent of the late 90’s and early 2000’s."
A deal doesn’t give Newmont shareholders anything they don’t already have.
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The tough talk underscored deep personality and cultural differences between the world’s two biggest gold producers.
Hostile bids bring out the worst in people. On the other hand, they also foster tremendous creativity.
It’s tempting to wish Barrick and Newmont would just get a room and end the speculation.
The company has not yet released its 2018 full-year financials, but previously said it expects 2018 full-year AISC to be at $850 per oz. gold.
Consolidation season has finally arrived in the goldfields, just as many experts and analysts have been predicting for some time now.
The cost to create the world’s largest gold company: A 17 percent premium for a $10 billion all-shares acquisition that faces some big-time challenges down the line.
"Simply put, this is not a deal we have to do. This is a deal that we want to do."
The mining industry is facing an upward cycle, and IIoT presents numerous opportunities and benefits to maximise profitability.
Operating results were hurt by lower output of all metals from the company’s Peñasquito mine, while costs climbed.