Newcrest Signed $2.8 Billion Acquisition Agreement

SEATTLE (Scrap Monster): Newcrest Mining entered into an agreement to acquire all of the issued and outstanding common shares of Canadian miner Pretium Resources in a $2.8 billion worth deal.

Pretium Resources owns the Brucejack operation in the highly prospective Golden Triangle region of British Columbia, Canada, which is considered as one of the highest-grade operating gold mines in the world. The merger of Newcrest and Pretium Resources will create the largest gold miner in B.C’s Golden Triangle region. The combination is expected to provide enhanced career and growth opportunities for employees of both companies, the company press release said.

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Sandeep Biswas, Managing Director and Chief Executive Officer, Newcrest Mining said that it is extremely delighted to expand its presence in the highly prospective region in British Columbia. The transaction will drive a notable surge in mineral resources, ore reserves and annual gold production, he added.

Meantime, Jacques Perron, President and Chief Executive Officer, Pretium Resources noted that the acquisition is an outstanding opportunity for Pretivm and its shareholders, employees, First Nations partners and the local communities in northwest British Columbia. The transaction will add Brucejack to Newcrest’s portfolio of tier one assets, he added.