Australia FIRB Clears Newmont To Proceed With Acquisition Of Newcrest

DENVER, CO - Newmont Corporation reported on the review by Australia’s Foreign Investment Review Board (FIRB), the Treasurer has cleared the Company to proceed with its proposed acquisition of Newcrest Mining Limited, issuing a No Objection Notification (NON). The NON is conditioned upon compliance with standard tax conditions associated with the Commonwealth’s taxation laws. Previously, Japan’s Fair Trade Commission (JFTC) issued a clearance letter allowing closing of the proposed transaction to proceed any time after September 30, 2023.

Newmont continues advancing other regulatory approvals and expects to close the transaction in the fourth quarter of this year. In August, the Australian Competition & Consumer Commission also cleared the proposed acquisition and conveyed its recommendation to the FIRB. Remaining regulatory approvals include the Philippine Competition Commission (PCC). Newmont and Newcrest also continue engaging with the PNG Government and regulators about other approvals and clearances for the transaction.

“Following a thorough review by regulators, we are pleased that the transaction has been given the green light to proceed in Australia and Japan,” said Tom Palmer, President and Chief Executive Officer. “In addition to further strengthening Newmont’s operational footprint, our entry into the Australian investment market will allow us to attract shareholders from Australia and the Asia Pacific region, positioning Australia as a key center of gravity for Newmont’s global business.”