NT’s Tanami gold mine operator, Newmont Mining, rejects $24.8 billion takeover offer
THE operator of the Tanami gold mine in the NT’s Centralian desert, Newmont Mining, has rejected a $24.8 billion takeover bid by Canadian mining giant Barrick Gold
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THE operator of the Tanami gold mine in the NT’s Centralian desert, Newmont Mining, has rejected a $24.8 billion takeover bid by Canadian mining giant Barrick Gold.
The board of Newmont has made Barrick Gold a counter proposal of a joint venture in Nevada.
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Rejecting the bid, Newmont chief executive Gary Goldberg said Barrick’s proposal was “egocentric”. He said it transferred value from Newmont’s shareholders to Barrick.
“Our thorough review of Barrick’s unsolicited proposal and its associated risks has reaffirmed our conclusion that the combination of Newmont and Goldcorp represents the best opportunity to create value for Newmont’s shareholders and deliver industry-leading returns for decades to come,” Mr Goldberg said.
Newmont’s other Australian assets are the T Kalgoorlie Consolidated Gold Mines (KCGM) joint venture with Barrick and the Boddington mine in WA.
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