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Newmont and Goldcorp Combine to Create Worlda??s Leading Gold Company

Newmont
Mining Corporation (NYSE: NEM) (Newmont or the Company) and Goldcorp
Inc. (NYSE: GG, TSX: G) (Goldcorp) today announced they have entered
into a definitive agreement in which Newmont will acquire all of the
outstanding common shares of Goldcorp in a stock-for-stock transaction
valued at $10 billion. Under the terms of the agreement, Newmont will
acquire each Goldcorp share for 0.3280 of a Newmont share, which
represents a 17 percent premium based on the companiesa?? 20-day volume
weighted average share prices.


The agreement will combine two gold industry leaders into Newmont
Goldcorp, to create an unmatched portfolio of operations, projects,
exploration opportunities, reserves and people in the gold mining
sector. Newmont Goldcorpa??s world-class portfolio will feature operating
assets in favorable jurisdictions, an unparalleled project pipeline, and
exploration potential in the most prospective gold districts around the
globe. In addition to providing shareholders the largest gold Reserves
per share, Newmont Goldcorp will offer the highest annual dividend among
senior gold producers.


"This combination will create the worlda??s leading gold business with the
best assets, people, prospects and value-creation opportunities,a?? said
Gary Goldberg, Newmonta??s Chief Executive Officer. "We have a proven
strategy and disciplined implementation plan to realize the full value
of the combination, including an exceptional pool of talented mining
professionals, stable and profitable gold production of six to seven
million ounces over a decades-long time horizon, the sectora??s largest
gold Reserve and Resource base, and a leading project and exploration
pipeline. Our cultures are well aligned, with strong commitments to zero
harm, inclusion and diversity, and industry-leading environmental,
social and governance performance. We expect to generate up to $100
million in annual pre-tax synergies, with additional cost and efficiency
opportunities that will be pursued through our proven Full Potential
continuous improvement program. The combination is expected to be
immediately accretive to Newmonta??s net asset value and cash flow per
share. We constantly review opportunities to raise our performance, and
this combination represents the most promising path to deliver superior
and sustainable value for our shareholders, employees, host countries
and communities.a??


Newmont Goldcorpa??s Reserves and Resources will represent the largest in
the gold sector and will be located in favorable mining jurisdictions in
the Americas, Australia and Ghana, representing approximately 75
percent, 15 percent and 10 percent, respectively. Newmont Goldcorp will
also prioritize project development by returns and risk, while targeting
$1.0 to 1.5 billion in divestitures over the next two years to optimize
gold production at a sustainable, steady-state level of six to seven
million ounces annually. Supported by stable, profitable long-term
production and an investment-grade balance sheet, Newmont Goldcorp will
generate robust free cash flow and have the financial flexibility to
fund project development and exploration in the decades ahead.
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