Canadian Competition Bureau Approves Newmont Gold's Purchase of Goldcorp Inc.

The Canadian Competition Bureau has approved Newmont Gold’s purchase of Goldcorp Inc. under Canadian competition law. The approval marks another step in finalizing the $10 Billion deal creating the largest gold mining company in the world Newmont Goldcorp. The company will operate a stable of gold mines on four continents.

Newmont continues to cooperate with other regulatory agencies regarding additional approvals that are conditions to closing of the combination.

Last month, Newmont and Goldcorp announced the two companies will create an unmatched portfolio of world-class operations, projects, Reserves, exploration opportunities, and talent. On day one after the transaction closes, which is expected in the second quarter, Newmont Goldcorp will: 
 Be immediately value-accretive to Newmont’s Net Asset Value and cash flow per share;
 Target 6-7 million ounces of steady-state gold production over a decades-long time horizon;
 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; and
 Offer financial flexibility and an investment-grade balance sheet to advance the most promising projects generating a targeted Internal Rate of Return of at least 15 percent.

For more information