TRENDING Newmont to become largest gold producer  


Newmont to become largest gold producer  


19:02, January 15, 2019

Newmont Mining is buying smaller rival Goldcorp for $10 billion, paying an 18 percent premium.


Video source: VCG

The deal creates the world's biggest gold producer just as easy-to-find gold reserves decline.

Newmont's shares fell on the news, but Goldcorp's skyrocketed.

The deal is the second high-profile merger in the mining industry since Barrick Gold agreed to buy Randgold Resources in September last year.

It's expected to close in the second quarter and generate up to $100 million in savings. Newmont Mining said it will buy smaller rival Goldcorp for 10 billion, becoming the world's biggest gold producer, just as gold reserves are declining. 

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