Goldcorp / Newmont gets Investment Canada Act approval
Newmont and Goldcorp expect the transaction to close on April 18, 2019, subject the satisfaction of customary closing conditions, said the company news release.
Immediately upon the closing of this transaction, the combined entity will be called Newmont Goldcorp, and is expected to:
- Target 6-7 million ounces of steady-state gold production over a decades-long time horizon; i
- Begin delivering a combined $365 million in expected annual pre-tax synergies, supply chain efficiencies and Full Potential improvements representing $4.4 billion in Net Present Value (pre-tax); ii
- Have the largest gold Reserves and Resources in the gold sector, including on a per share basis;
- Be located in favorable mining jurisdictions and prolific gold districts on four continents;
- Deliver the highest dividend among senior gold producers; iii
- Offer financial flexibility and an investment-grade balance sheet to advance the most promising projects at an Internal Rate of Return (IRR) of at least 15 percent; iv
- Feature a deep bench of accomplished business leaders, technical teams and other talent with extensive mining industry experience; and
- Maintain industry leadership in environmental, social and governance performance.