Newmont makes final R360bn play for Newcrest Mining

Newmont Corporation laid down a best and final offer for Australia's Newcrest Mining at A$29.4 billion (R360 billion) to close a deal that would extend Newmont's lead as the world's biggest gold producer.Newmont has indicated that the new offer represents its best and final price unless a rival offer is made. Canadian gold mining giant Barrick Gold – widely considered to be a possible rival suitor for ASX-listed Newcrest – has indicated it is unlikely to challenge.If Newmont’s $29.4 billion bid for Newcrest succeeds, it would mark the biggest takeover in the history of the gold mining industry.

Australian gold miner Newcrest has opened its books to US mining giant Newmont after receiving a sweetened takeover offer that values the company at nearly $30 billion.Melbourne-based Newcrest owns gold and copper mines in NSW, Western Australia, PNG and Canada, and holds equity interests in gold assets in Ecuador.