The world’s top gold firm, Newmont Corporation, has announced the acquisition of Newcrest Mining Limited, creating a strong copper-producing company.

Monday saw the announcement of this.

Tom Palmer, President and CEO of Newmont, stated, “Today marks a historic milestone in our company and the industry with the successful completion of this transformational acquisition of Newcrest by Newmont.”

“In order to accelerate the delivery of our value-focused strategy for all of our stakeholders, our attention now turns to safely, efficiently, and responsibly integrating Newcrest’s assets and people into Newmont’s proven operating model,” he continued.

After closing the deal, Newmont expects to strengthen its position as the industry leader in responsible gold mining by combining high-quality operations, profitable projects, and reserves concentrated in low-risk jurisdictions, including 10 Tier 1 operations* that will support decades of safe, profitable, and responsible production of gold and copper. Additionally, the transaction is estimated to produce $500 million in pre-tax synergies annually within the first 24 months, and in the first two years following closing, the purchase will optimize the portfolio and enhance cash flows by at least $2 billion.

In addition, this would uphold Newmont’s industry-leading non-binding dividend payout policy and balanced capital allocation goals. Since the Goldcorp deal was closed in 2019, Newmont has distributed more than $5 billion in dividends, underscoring our dedication to our shareholders.