Gold giant Newmont Corp. secured a A$28.8 billion ($19.2 billion) deal to buy Australian rival Newcrest Mining Ltd., consolidating its position as the world’s biggest bullion producer with mines across the Americas, Africa, Australia and Papua New Guinea.
The transaction, now unanimously approved by Newcrest’s board but pending regulatory approval, is the gold mining sector’s largest deal to date, surpassing Newmont’s purchase of rival Goldcorp Inc. in 2019. Newcrest, whose then chief executive officer stepped down abruptly at the end of last year, rejected initial overtures, though it had indicated earlier this month that it planned to recommend ...
