Newmont Receives Regulatory Approvals for Newcrest Mining Buyout

Australian gold miner Newcrest Mining has announced that Newmont Corporation, its potential buyer for a proposed A$26.2 billion ($16.68 billion) buyout, has obtained all necessary government regulatory approvals for the deal. The approvals include those from the Australian Foreign Investment Review Board and competition authorities in Australia, Canada, and Papua New Guinea.

Newcrest, Australia’s largest gold miner, had previously expressed its support for the takeover offer from Newmont, which would mark the third-largest deal ever involving an Australian company. The transaction is expected to close in the fourth quarter of this year, subject to customary closing conditions.

The Newcrest shareholder vote, scheduled for October 13, remains a crucial step in finalizing the deal. Both Newmont, the world’s largest gold producer, and Newcrest are optimistic about the successful completion of the transaction.

Newmont Corporation has not yet responded to requests for comment on the matter.

Please note that the information provided is based on a press release and may be subject to change as the situation develops.