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Denver-based gold miner Newmont has agreed to buy Australian rival Newcrest to US$17.5 billion in stock.

Why it matters: Newmont already is the world's largest gold miner, and adding Newcrest would give it nearly double the output of second-place Barrick Gold. Plus lots of copper.

Details: The offer was valued at around $19.5 billion when first announced last month, but fell alongside corresponding stock prices.

One big holdup could be regulatory approval, in both the U.S. and Australia.

Newmont and Newcrest agree to gold mining megamerger

Newmont already is the world's largest gold miner.

Gold

Denver-based gold miner Newmont has agreed to buy Australian rival Newcrest to US$17.5 billion in stock.Why it matters: Newmont already is the world&#x27;s largest gold miner, and adding Newcrest would give it nearly double the output of second-place Barrick Gold. Plus lots of copper.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Newmont and Newcrest agree to gold mining megamerger

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