Newmont merges with Goldcorp, creating world's largest gold company
Goldcorp, a large scale mining company headquartered in Vancouver, British Columbia, announced today that it has successfully concluded its merger with Colorado-based Newmont Mining Corporation. The resulting coalition is now the world’s largest gold mining company.
The resulting company is expected to be immediately accretive to Newmont’s Net Asset Value per share by 27 percent, and to the combined company’s 2020 cash flow per share by 34 percent. This portfolio includes long-life operations and profitable expansion and exploration options in some of the world’s most favorable mining jurisdictions. Newmont Goldcorp will also offer investors the highest annual dividend and the largest Reserves and Resources per share among senior gold producers.
“We’ve met our goal to become the world’s leading gold business, and we’ll maintain that position by executing our winning strategy,” said Gary J. Goldberg, Chief Executive Officer. “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. An equally important part of that strategy is to meet stakeholders’ expectations by continuing to lead the sector in value creation and sustainability performance.”
Tom Palmer, President and Chief Operating Officer, added, “Our proven operating model and shared values set the stage for a successful integration process. Getting this process right is fundamental to realizing the full potential of the Newmont Goldcorp combination. Ultimately, our goal is to leverage a more prolific portfolio and an even richer talent pool to generate superior value over the course of decades.”