History
Newmont used two big share-based deals, Goldcorp in 2019 and Newcrest in 2023, plus a Nevada joint venture with Barrick, to become the world's largest gold miner.
2019: Deals with Barrick and Goldcorp
The record opens in March 2019, when Newmont agreed to combine its Nevada mining operations with rival Barrick's in a joint venture, 61.5% owned by Barrick, which would run it, and 38.5% by Newmont. As part of the same deal, Barrick withdrew its earlier hostile all-stock takeover bid for Newmont.
Newmont also pursued Goldcorp. After Canada cleared the merger in April and five former Goldcorp directors were set to join the board, the deal closed on April 18, 2019. Newmont paid 0.3280 of its shares plus $0.02 in cash for each Goldcorp share, issuing about 285 million new shares. That explains the jump in shares on issue from about 533 million at the end of 2018 to about 808 million at the end of 2019. The Nevada joint venture, named Nevada Gold Mines LLC, took effect on July 1, 2019.
In December 2019 Newmont agreed to sell its 50% stake in the Kalgoorlie Consolidated Gold Mines joint venture (the Super Pit) in Western Australia to Northern Star Resources for US$800 million in cash, plus a $25 million option fee tied to its related power business.
2020-2022: A quiet record
The disclosures contain no major story beats for these years. Share counts drifted from about 808 million to about 793 million, but the beats do not explain this, so it is left unexplained here.
2023-2026: Newcrest and a deeper Nevada tie
In May 2023 Newmont agreed to buy Australia's Newcrest Mining in an all-stock deal, offering 0.400 Newmont shares for each Newcrest share through a court-approved scheme of arrangement. The price was about $19 billion at announcement. In August Newmont filed a proxy statement asking its stockholders to approve issuing the shares and to raise authorized common shares from 1,280,000,000 to 2,550,000,000. Former Newcrest holders were to own about 31% of the combined company. The final proxy followed on September 5, with a stockholder meeting set for October 11, 2023. The deal agreement had been amended by a letter deed the day before, and the board unanimously recommended voting for the share issuance.
The deal closed on November 6, 2023, making Newmont the world's largest gold miner. Shares on issue rose from about 793 million at the end of 2022 to about 1.15 billion at the end of 2023, in line with the new shares issued for Newcrest.
In August 2026 Newmont and Barrick restructured Nevada Gold Mines. Barrick's Fourmile project and Newmont's Fiberline and Mike projects are to be contributed to the venture. Newmont will pay Barrick $1.95 billion in cash and match it with a $1.95 billion capital contribution, against Barrick's roughly $3.11 billion. At that date, Newmont held 38.5% of the venture, and Barrick remained its operator.
Written from the 10 story beats below (2019 to 13 Aug 2026), which come from the company's own announcements and filings.