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Newcrest Completes Due Diligence on Lihir Takeover

Newcrest is Australia’s largest gold producer and one of the world’s top 10 gold mining companies by production, reserves and market capitalisation. It has been proposing a takeover of a rival firm.

On Tuesday Newcrest released a statement saying that it has completed the due diligence process to takeover its rival Lihir Gold Ltd. Lihir must now contribute to the proposed merger of the two companies by entering a exclusivity period with Newcrest.

Parties from both companies need to work together to produce the scheme of arrangement under which Newcrest will acquire Lihir.

Headquartered in Melbourne, Australia, Newcrest is among the top 20 companies listed on the Australian Stock Exchange by market capitalisation. The Company has around 5,100 employees and long term contractors.

Joel Scanlon

Written by

Joel Scanlon

Joel emigrated to Australia in 1995 and worked for five years in the mining industry as an exploration geotechnician, using GIS mapping and CAD software. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm. After that, he ran a successful business providing web services to businesses along the eastern seaboard of Australia. During this time, he developed and launched News-Medical.Net. Joel has been working with AZoNetwork since the company was founded in 2000.

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