The long-awaited takeover of Cadia and parent company Newcrest has been made official.
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President and CEO of American gold company Newmont, Tom Palmer, announced the news in a video published to the company's website on November 6.
"Today marks an historic industry milestone, with the coming together of Newcrest and Newmont to create the leading gold company," he said.
"I would like to extend a warm welcome, to the many thousands of Newcrest employees, teammates, who will be integral in helping Newmont to continue to set the standard for safe, profitable and responsible gold and copper production."
The announcement came less than a week after the Central Western Daily revealed that Cadia's general manager, Mick Dewar, was to be replaced after just a few months in the role once the takeover had been completed.
No word of the leadership change was mentioned in the Newmont announcement, with members of the public outside the company the public yet to be officially notified.
Mr Palmer said the newly combined business would allow them to "further enhance" environmental and social performance.
"As we look towards tomorrow, it will be our values that drive how we behave," he added.
"It is essential that the decisions we make are grounded in our values and guided by our purpose to create value and improve lives through sustainable, responsible mining.
"If we live our values of safety, integrity and sustainability, inclusion and responsibility when we engage with one another, our host communities, our suppliers, customers and our shareholders then all aspects of our business will benefit."
As a result of the takeover, Newmont expects to generate annual pre-tax earnings of $500 million which the company expected to be achieved within the first 24 months.
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