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World’s top gold miner offers $17bn for rival Newcrest

Consolidation in prospect as US-listed Newmont seeks to bring Australian group back into fold
Newmont had earlier melted down its ownership of Newcrest in 1990, with its Australian arm being spun out after it merged with BHP’s historic gold assets

Two of the world’s largest gold miners are in talks to create a global powerhouse for producing the precious metal in the biggest takeover offer announced this year.

US-listed Newmont, already the world’s largest gold miner by output, has launched an all-share bid for its Australian rival Newcrest that values the smaller company at almost A$24bn ($17bn).

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