Barrick, Newmont joint venture in Nevada clears all hurdles

Apr 22 10:04 2019 Print This Article

Newmont Goldcorp (NYSE:NEM)(TSX:NGT) and Canada’s Barrick Gold (TSX:ABX)(NYSE:GOLD), the No. 1 and 2 bullion producers, have cleared all the regulatory conditions to combine their operations in Nevada ahead of schedule.

The U.S. Federal Trade Commission, said the companies, granted an early termination of the waiting period under the Hart-Scott-Rodino Act on April 19.

The new business, yet to be named, will be owned 38.5% by Newmont Goldcorp and 61.5% by Barrick, which will also be the operator of what the partners say it’ll be the world’s largest gold producing complex.

The “historic” business combination (as the duo called it) is expected to generate savings of $500 million a year within the first full five years. It includes Barrick’s Goldstrike, Cortez, Turquoise Ridge, and Goldrush and Newmont’s Carlin, Twin Creeks, Phoenix, Long Canyon, along with associated processing plants and infrastructure of both companies.

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About Article Author

Junior Mining News

Dudley Pierce Baker is the founder and editor of Common Stock Warrants and a 1967 graduate of St. Mary’s University in San Antonio, Texas with a major in accounting. A former for IRS agent, Baker has 35 years or so of accumulated knowledge and experience in trading stocks, options, leaps, futures, options on futures and of course, warrants. In March 2005, he founded and launched this new investment Market Data Service, Precious Metals Warrants, which provides the detail on all mining and energy company Warrants trading on the U.S. and Canadian Exchanges. As an investor, Baker looked all over for helpful information about US-Canada mining and energy industry's; he, therefore, proceeded to accumulate the sources of the information and then to build the website into a user-friendly place to get the details on all warrants trading on the mining and energy companies.

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