MANAGEMENT

Newmont expects $500M annual synergies from buying Newcrest

NEWMONT has agreed to a $26.2 billion deal to buy fellow gold miner Newcrest Mining, which should bring it annual pre-tax synergies of US$500 million within the first 24 months and key skill sets in block caving.

Camels near Newcrest's, soon to be Newmont's, Telfer mine.

Camels near Newcrest's, soon to be Newmont's, Telfer mine.

Those $500 million of synergies are broken down into: About $100 million of pre-tax general and administrative synergies driven by Newmont's scalable, integrated operating model with existing regional...

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