{"id":3292,"date":"2019-02-26T16:22:20","date_gmt":"2019-02-26T05:22:20","guid":{"rendered":"http:\/\/yinghuiinternational.com\/?p=3292"},"modified":"2019-02-27T16:23:32","modified_gmt":"2019-02-27T05:23:32","slug":"barrick-launches-25bn-bid-for-newmont","status":"publish","type":"post","link":"https:\/\/yinghuiinternational.com\/index.php\/2019\/02\/26\/barrick-launches-25bn-bid-for-newmont\/","title":{"rendered":"Barrick launches $25bn bid for Newmont"},"content":{"rendered":"\n

Barrick Gold has officially unveiled an offer to merge with Newmont Mining after several days of anticipation it would make a tilt for the gold rival.<\/p>\n\n\n\n

The $US17.8 billion ($24.8 billion) all-share transaction would create the world\u2019s largest gold company<\/strong>, with three Australian assets \u2013 the Super Pit and Boddington in Western Australia, and Tanami in the Northern Territory.<\/p>\n\n\n\n

Barrick\u2019s offer, however, represents a negative premium based on Newmont\u2019s closing price on February 22. It also has the potential to derail Newmont\u2019s $US10 billion plans to merge with Goldcorp<\/a>, a deal the United States-based company believes offers better value than the Barrick tie-up.<\/p>\n\n\n\n

Barrick chief executive officer Mark Bristow said the proposed merger with Newmont would unlock more than $7 billion of real synergies.<\/p>\n\n\n\n

\u201cThe combination of Barrick and Newmont will create what is clearly the world\u2019s best gold company, with the largest portfolio of Tier 1 gold assets and the highest level of free cash flow to drive future growth and support sustainable shareholder returns, run by a management team with an unparalleled record of delivering growth,\u201d Bristow said.<\/p>\n\n\n\n

A major portion of the synergies between the companies would be in Nevada, United States, where the deal would combine Barrick\u2019s mineral endowments with Newmont\u2019s processing plants and infrastructure.<\/p>\n\n\n\n

Bristow said the proposed merger would secure Nevada\u2019s position as the world\u2019s most prospective gold region.<\/p>\n\n\n\n

\u201cMost important, it will enable us to consider our Nevada assets as one complex, which will result in better mine planning and fully realise the state\u2019s enormous geological potential for all stakeholders,\u201d Bristow said.<\/p>\n\n\n\n

\u201cConsidered globally, the merger represents a radical and long-overdue restructuring of the gold industry, and a transformative shift from short-term survival tactics to the long-term creation of sustainable value.\u201d<\/p>\n\n\n\n

The Canadian company confirmed last Friday that it was reviewing the opportunity to make a takeover bid for Newmont following media speculation about a potential deal.<\/p>\n\n\n\n

Barrick also completed a $US6.5 billion acquisition of Randgold Resources<\/a> in January.<\/p>\n\n\n\n

Newmont responded to the Barrick offer by stating it had a long history of evaluating potential transactions, and undertakes robust analysis and diligence on a continuous basis of acquisition opportunities.<\/p>\n\n\n\n

\u201cNewmont has previously reviewed and rejected potential combinations with each of Barrick and Randgold Resources, prior to their merger,\u201d Newmont stated.<\/p>\n\n\n\n

\u201cNewmont\u2019s proposed combination with Goldcorp represents the best opportunity to create optimal value for Newmont\u2019s shareholders and other stakeholders.\u201d<\/p>\n\n\n\n

The company plans to fully evaluate the Barrick proposal and respond in due course.<\/p>\n","protected":false},"excerpt":{"rendered":"

Barrick Gold has officially unveiled an offer to merge with Newmont Mining after several days of anticipation it would make a tilt for the gold rival. The $US17.8 billion ($24.8 billion) all-share transaction would create the world\u2019s largest gold company, with three Australian assets \u2013 the Super Pit and Boddington in Western Australia, and Tanami … Continue reading “Barrick launches $25bn bid for Newmont”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6,7],"tags":[],"class_list":["post-3292","post","type-post","status-publish","format-standard","hentry","category-mines-and-quarry","category-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-R6","jetpack-related-posts":[{"id":8498,"url":"https:\/\/yinghuiinternational.com\/index.php\/2023\/11\/09\/australias-new-largest-gold-miner\/","url_meta":{"origin":3292,"position":0},"title":"Australia\u2019s new largest gold miner","author":"yinghui","date":"November 9, 2023","format":false,"excerpt":"TIM BOND The Cadia gold operation in New South Wales. Newcrest Mining disappears from the ASX, having been officially swallowed-up by gold giant Newmont. The takeover creates a veritable gold behemoth\u00a0in control of over half of the world\u2019s Tier-1 gold assets. The enlarged Newmont, which sees foreign ownership of Australian\u2026","rel":"","context":"In "Gold and Copper"","block_context":{"text":"Gold and Copper","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/goldcopper\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8863,"url":"https:\/\/yinghuiinternational.com\/index.php\/2024\/10\/11\/newmont-to-divest-akyem-for-up-to-1-5-billion\/","url_meta":{"origin":3292,"position":1},"title":"Newmont to divest Akyem for up to $1.5 billion","author":"yinghui","date":"October 11, 2024","format":false,"excerpt":"Dylan Brown Image: Timon\/stock.adobe.com Newmont has entered into a definitive agreement to sell its Akyem gold mine in Ghana to Zijin Mining Group for up to $US1 billion ($1.5 billion). This deal marks a significant step in Newmont\u2019s strategy to focus on its Tier 1 assets, which are expected to\u2026","rel":"","context":"In "Clients"","block_context":{"text":"Clients","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/clients\/"},"img":{"alt_text":"Newmont","src":"https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2023\/10\/shutterstock_2120688059-1024x576.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2023\/10\/shutterstock_2120688059-1024x576.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2023\/10\/shutterstock_2120688059-1024x576.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2023\/10\/shutterstock_2120688059-1024x576.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":7995,"url":"https:\/\/yinghuiinternational.com\/index.php\/2021\/07\/23\/newmont-rises-above-tanami-constraints\/","url_meta":{"origin":3292,"position":2},"title":"Newmont rises above Tanami constraints","author":"yinghui","date":"July 23, 2021","format":false,"excerpt":"July 23, 2021News\u00a0Nickolas Zakharia The Tanami gold operation. Image: Newmont. Newmont has boosted production across its global gold portfolio, with an increase in grades and throughput at the Boddington mine in Western Australia contributing to the result. The company produced 1.45 million ounces of gold in the June quarter, which\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"Newmont","src":"https:\/\/i0.wp.com\/dszs098s1om2l.cloudfront.net\/australianmining.com.au\/2020\/05\/12103004\/Tanami-Australia-8-newmont-604x270.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/dszs098s1om2l.cloudfront.net\/australianmining.com.au\/2020\/05\/12103004\/Tanami-Australia-8-newmont-604x270.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/dszs098s1om2l.cloudfront.net\/australianmining.com.au\/2020\/05\/12103004\/Tanami-Australia-8-newmont-604x270.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":1525,"url":"https:\/\/yinghuiinternational.com\/index.php\/2016\/07\/01\/newmont-divests-1-3bn-indonesian-mine\/","url_meta":{"origin":3292,"position":3},"title":"Newmont divests $1.3bn Indonesian mine","author":"yinghui","date":"July 1, 2016","format":false,"excerpt":"Newmont Mining has entered an agreement with PT Amman Mineral Internasional (PT AMI) to sell its interests in PT Newmont Nusa Tenggara (PTNNT), which operates Indonesia\u2019s Batu Hijau copper and gold mine. Newmont\u2019s 48.5 per cent interest in PTNNT is valued at $1.3 billion; with the deal seeing $920 million\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"Newmont-seeks-outside-help-on-Indonesian-export-tax-655075-l-370x270","src":"https:\/\/i0.wp.com\/yinghuiinternational.com\/wp-content\/uploads\/2016\/07\/Newmont-seeks-outside-help-on-Indonesian-export-tax-655075-l-370x270-300x219.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":8833,"url":"https:\/\/yinghuiinternational.com\/index.php\/2024\/08\/13\/newmont-to-roll-out-global-autonomous-fleet\/","url_meta":{"origin":3292,"position":4},"title":"Newmont to roll out global autonomous fleet","author":"yinghui","date":"August 13, 2024","format":false,"excerpt":"Kelsie Tibben Image: WesTrac\/Newmont Newmont will begin rolling out more autonomous haul trucks, drill rigs, and graders following a trial to boost the technology capabilities of its Cadia mine in New South Wales. The gold miner will begin expanding next generation 5G wireless networks to improve safety in underground mining\u2026","rel":"","context":"In "Clients"","block_context":{"text":"Clients","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/clients\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/safetowork.com.au\/wp-content\/uploads\/2021\/04\/WesTrac-Newmont-trucks-1-1024x768.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/safetowork.com.au\/wp-content\/uploads\/2021\/04\/WesTrac-Newmont-trucks-1-1024x768.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/safetowork.com.au\/wp-content\/uploads\/2021\/04\/WesTrac-Newmont-trucks-1-1024x768.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/safetowork.com.au\/wp-content\/uploads\/2021\/04\/WesTrac-Newmont-trucks-1-1024x768.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":8324,"url":"https:\/\/yinghuiinternational.com\/index.php\/2023\/08\/03\/newmont-takeover-of-newcrest-receives-png-approval\/","url_meta":{"origin":3292,"position":5},"title":"Newmont takeover of Newcrest receives PNG approval","author":"yinghui","date":"August 3, 2023","format":false,"excerpt":"OLIVIA THOMSON Papua New Guinea\u2019s (PNG) Independent Consumer and Competition Commission (ICCC) has granted clearance for Newmont to proceed with its acquisition\u00a0of\u00a0Newcrest. After a three-month process beginning in February 2023, Newmont\u00a0secured\u00a0a $26.2 billion takeover deal with Newcrest. The Canadian Competition Bureau\u00a0issued\u00a0a \u2018no action\u2019 letter clearing Newmont\u2019s announced transaction\u00a0with\u00a0Newcrest under Canadian\u2026","rel":"","context":"In "Gold and Copper"","block_context":{"text":"Gold and Copper","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/goldcopper\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts\/3292","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/comments?post=3292"}],"version-history":[{"count":1,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts\/3292\/revisions"}],"predecessor-version":[{"id":3293,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts\/3292\/revisions\/3293"}],"wp:attachment":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/media?parent=3292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/categories?post=3292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/tags?post=3292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}