Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
Newmont Corporation, the world’s largest gold producer, said on Wednesday more than 96% of shareholder votes were cast in favor of its proposed A$26.2 billion ($16.80 billion) acquisition of Australian gold miner Newcrest Mining.
Both the companies expect the deal to close in early November, Newmont said.
Newcrest had in May backed the takeover offer from Newmont, in what would be the third-largest deal ever involving an Australian company.
The deal still awaits the crucial Newcrest shareholder vote, scheduled for Oct. 13.
Newcrest last week said Newmont had received all government regulatory approvals required for the deal to go through, including from Australian Foreign Investment Review Board and competition authorities in Australia, Canada and Papua New Guinea.
($1 = 1.5591 Australian dollars)
(By Echha Jain; Editing by Shilpi Majumdar)
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