Posted in | News | Gold | Mining Business

Newcrest Completes Due Diligence on Lihir Takeover

By Joel ScanlonJun 7 2010

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.

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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