The creditors are reportedly trying to block an amendment Newmont is seeking for a large tranche of notes associated with its operations in Nevada.
Newmont Mining Corp. 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.
Project included the installation of two power stations, a 66 kV interconnected power line, and a 450 km natural gas pipeline.
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.
Major shareholders have pushed for a Nevada JV, expressing concern a full combination of both companies could be too complex.
The companies are meeting on Tuesday in New York to discuss Newmont's proposal for the joint venture.
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.
A deal doesn’t give Newmont shareholders anything they don’t already have.
The tough talk underscored deep personality and cultural differences between the world’s two biggest gold producers.
The man proposing to buy Newmont Mining Corp. in the world’s biggest gold takeover is the same person who was blamed for the deal falling apart five years ago.
"Mark has never run a global portfolio. In fact, I’d say none of his team have run a global portfolio like what we have in place."
Klein won’t have to share his fees with other large U.S. or European investment banks.
Some media reports indicated that Newcrest, as part of the deal, would be interested in buying Newmont's Australian assets.
The deal marks Bristow's first major strategic move at Barrick since taking the top position in January.
Hostile bids bring out the worst in people. On the other hand, they also foster tremendous creativity.
OceanaGold Corp. says its mines will produce a total of between 500,000 and 550,000 ounces of gold and 14,000 to 15,000 tonnes of copper this year.
The company reported a worse-than-expected third-quarter loss in October, sending shares to the lowest since 2002 a day later.
"Simply put, this is not a deal we have to do. This is a deal that we want to do."
Newmont also cut overall production guidance for its North American operations for 2018.
The Colorado-based miner sees 2019 output at 5.2 million ounces of gold, from an earlier forecast range of 4.9 million ounces to 5.4 million ounces.
Falling gold and copper prices hurt the miner's results for the three months to Sep. 30.