Australia’s biggest gold miner Newcrest Mining is in the crosshairs of a major global producer.
Australia’s biggest gold miner Newcrest Mining is in the crosshairs of a major global producer, with talks underway to fold the $20 billion Australian company into a North American counterpart.
Toronto-based Barrick Gold and US-based Newmont Corporation, both of who have long associations with gold mining in Australia, and Canada’s Agnico Eagle Mines, are the most logical suitors.The trio are the biggest gold producers globally, and are well known to Newcrest’s board and its institutional shareholders. None of the global players have an ASX-listing, and could use a Newcrest merger or takeover as a way to tap into Australia’s investment markets.
Newcrest’s board is understood to have retained investment bank Lazard Australia and Herbert Smith Freehills’ lawyers in Melbourne for advice on the talks. Other banks are expected to be involved for funding and advice.
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