Skip to content.

Newmont Corp. acquires Newcrest Mining Limited for US$19.1B

Date Closed

November 6, 2023

Lead Office



19.10 Billion USD

On November 6, 2023, Newmont Corporation ("Newmont") completed the largest deal in the gold mining sector to date with its acquisition of Newcrest Mining Limited (Newcrest) valued at US$19.1 billion. The transaction, originally announced in May of 2023, had been approved by Newcrest's board but was awaiting regulatory approval. Newmont issued 357,691,627 new shares of Newmont common stock in connection with the transaction, comprised of a mixture of shares, CDIs, and PDIs.

Newmont now operates 20 mines in 11 countries, consolidating its position as the world's biggest bullion producer. The move boosts the company’s gold output to an estimated 8.5 million ounces a year while significantly increasing its exposure to copper.

Newcrest is one of the world's largest gold mining companies with headquarters in Melbourne, Australia and operating mines in Australia, Canada and Papua New Guinea. Newcrest is a technical industry leader, with particular expertise in exploration, deep underground block caving and metallurgical processing.

Newmont Corporation, based in Denver, Colorado, is a gold company and a producer of copper, silver, zinc and lead which has a world-class portfolio of assets, prospects and talent in North America, South America, Australia and Africa.

McCarthy Tétrault advised Newcrest with a team led by Shea Small and Eva Bellissimo that included Roger Taplin, Dan Bornstein, Claire Lehan, Glynnis Morgan (Business), Donovan Plomp (Employment), Jason Gudofsky and Kate McNeece (Competition/Antitrust & Foreign Investment).