Gold

Newmont Mining agrees to buy Goldcorp for $10 billion

A prospector shows off a gold nugget in Poland. Photo: Piotr Hawalej/AFP/Getty Images

Newmont Mining agreed to buy Goldcorp for approximately $10 billion in an all-stock transaction.

Why it matters: It would create the world's largest gold mining company. If that sounds familiar, it's because we wrote the same thing when Barrick Gold bought Randgold Resources last year. So ... your move Barrick. "The depletion of global gold mines and the resulting increase in extraction costs has pushed gold miners to seek cost efficiencies, and smaller-scale combinations, as they compete to find and exploit the world’s remaining high-grade deposits," writes the Wall Street Journal.

Bloodshed and gold in the frontier between Venezuela and Colombia

An ELN flag in the Colombian jungle. Photo: Luis Robayo/AFP/Getty Images

Venezuela says it's sending more troops to its border with Colombia after an attack over the weekend left 3 Venezuelan soldiers dead and 10 wounded.

The big picture: The recent incident highlights the instability in the frontier between the two countries, where Colombian guerrilla groups like the ELN — which Colombia says was responsible for the attack — have long operated. Sebastiana Barraez, a Venezuelan journalist who has reported on the situation for nearly two decades, says Venezuela's socialist government has had a mutually beneficial relationship with the rebel groups dating back to Hugo Chavez's time in office — but things are now getting tense.

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