Australia’s Competition Commission clears Newmont’s Newcrest buy
The Australian Competition and Consumer Commission (ACCC) has cleared Newmont to proceed with its proposed acquisition of Newcrest Mining.
The ACCC is expected to convey its clearance of the transaction to Australia’s Foreign Investment Review Board (FIRB) for consideration.
Newmont continues advancing other regulatory approvals and expects to close the transaction in the fourth quarter of this year.
Earlier this month, Korea’s FairTrade Commission and Papua New Guinea’s Independent Consumer & Competition Commission cleared the proposed acquisition. In July, the Canadian Competition Bureau issued a “no action” letter also clearing the transaction.
Other regulatory approvals to be secured for Newmont’s proposed acquisition of Newcrest include the FIRB, the Japan Fair Trade Commission, and the Philippine Competition Commission.
Newmont and Newcrest also continue engaging with the Papua New Guinea government and regulators about other approvals and clearances for the transaction.
On May 14, Newmont announced its definitive agreement to acquire Newcrest.. Upon closing of the transaction, the combined company would deliver a multi-decade production profile from ten large, long-life, low cost, Tier 1 operations, and increased annual copper production primarily from Australia and Canada.
Comments
Research Reports
Latest Multimedia
Latest News
Showroom
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOM
AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
