Newmont receives clearance from Australia FIRB for Newcrest acquisition

Newmont announced that, following a review by Australia’s Foreign Investment Review Board, or FIRB, the Treasurer has cleared the company to proceed with its proposed acquisition of Newcrest Mining, issuing a No Objection Notification, or NON. The NON is conditioned upon compliance with standard tax conditions associated with the Commonwealth’s taxation laws. Last week, Japan’s Fair Trade Commission, or JFTC, issued a clearance letter allowing closing of the proposed transaction to proceed any time after September 30. Newmont continues advancing other regulatory approvals and expects to close the transaction in the fourth quarter of this year. In August, the Australian Competition & Consumer Commission also cleared the proposed acquisition and conveyed its recommendation to the FIRB. Remaining regulatory approvals include the Philippine Competition Commission. Newmont and Newcrest also continue engaging with the PNG Government and regulators about other approvals and clearances for the transaction.