Development banks seek to revive world’s biggest power project
The planned Grand Inga hydropower complex in the DRC has been stalled for decades.
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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