American gold miner Newmont Corporation has announced the acquisition of Australia-listed Newcrest Mining.

The deal represents the creation of the world's biggest gold producer and is worth about AUD$28.8 billion (US$19.2 billion). Newcrest shareholders will receive 0.4 Newmont shares for each Newcrest share they own, giving them a total of 31% of the combined group's shares. Newcrest will pay a special dividend up to US$1.10 per share before the deal closes. Following the deal, Newmont will have gold assets in the Americas, Africa, Australia and Papua New Guinea. The transaction will also allow Newmont to expand its footprint in copper, a key metal in the clean energy transition. Newmont first approached Newcrest in February 2023 with a non-binding offer of US$17 billion, but it was rejected. Newmont then increased that amount in April to US$19.5 billion, which was the final offer.

Newcrest Mining Limited is an Australian-based corporation that engages in the exploration, development, mining and sale of gold and the froth flotation product, gold-copper concentrate. It is Australia's leading gold mining company and its operations have expanded beyond Australia, for example, to Indonesia, thus becoming a prominent international mining corporation.