{"id":1111721,"date":"2019-04-18T12:43:59","date_gmt":"2019-04-18T12:43:59","guid":{"rendered":"http:\/\/www.mining.com\/?p=983070"},"modified":"2019-04-18T12:43:59","modified_gmt":"2019-04-18T12:43:59","slug":"case-closed-newmont-goldcorp-becomes-worlds-no-1-gold-miner","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1111721","title":{"rendered":"Case closed: Newmont Goldcorp becomes world\u2019s No. 1 gold miner"},"content":{"rendered":"

Newmont Mining\u2019s $10 billion acquisition of Canada\u2019s Goldcorp closed Thursday<\/a>, giving birth to Newmont Goldcorp Corporation\u00a0(NYSE: NEM)(TSX: NGT), the world\u2019s largest gold producer by market value, output and reserves.<\/p>\n

The mammoth company, to be led by Gary Goldberg until the end of the year, will mine in the Americas, Australia and Ghana, producing between 6 and 7 million ounces of gold annually over the next ten years and beyond.<\/p>\n

A key reason for the business combination was the synergies and cost-savings the merged company could achieve. Newmont Goldcorp expects to immediately start delivering on an estimated $365 million in expected annual pre-tax synergies, supply chain efficiencies and other improvements. This is expected to include the sale of $1 billion to $1.5 billion of assets over the next two years.<\/p>\n

Newmont Goldcorp is now the world\u2019s largest gold producer by market value, output and reserves, as well as the only bullion producer listed in the S&P 500 Index.<\/q><\/p>\n

“We’ve met our goal to become the world’s leading gold business, and we’ll maintain that position by executing our winning strategy. That strategy focuses on constantly improving safety and efficiency at our current operations while we continue to invest in expansions and exploration to fuel next generation production,” said Goldberg<\/a>, who is\u00a0retiring by the end of the year<\/a>.<\/p>\n

Former Newmont\u2019s chief operating officer, Tom Palmer,\u00a0will then take over as CEO<\/a> of the new company, based in Vancouver, British Columbia.<\/p>\n

The company will continue trading on the New York Stock Exchange (NYSE) under the ticker NEM and will begin trading on the Toronto Stock Exchange (TSX) under the ticker NGT. Goldcorp’s shares will be delisted from the NYSE before market open on April 18 and from the TSX after market close on April 22.<\/p>\n

The assets Newmont Goldcorp is anticipated to put on the chopping block, combined with mines\u00a0Barrick plans to sell<\/a>\u00a0in the wake of its acquisition of Randgold Resources earlier this year, is expected by analysts to fuel further sector deals.<\/p>\n

The post Case closed: Newmont Goldcorp becomes world\u2019s No. 1 gold miner<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Newmont Goldcorp is now the world’s largest gold producer by market value, output and reserves, as well as the only bullion producer listed in the S&P 500 Index.<\/p>\n

The post Case closed: Newmont Goldcorp becomes world’s No. 1 gold miner<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[421,514,674,404,369,1020,428],"tags":[15,18,25,48,71,83],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1111721"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1111721"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1111721\/revisions"}],"predecessor-version":[{"id":1111774,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1111721\/revisions\/1111774"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1111721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1111721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1111721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}