DENVER -- Newmont Mining Corp. and Goldcorp Inc. announced Tuesday that the government of Korea, through the Korea Fair Trade Commission, issued a letter stating that the proposed combination of the two companies is not in violation of the Monopoly Regulations and Fair Trade Act.
Earlier this month, the Canadian Competition Bureau issued a “no action” letter clearing the transaction under Canadian competition law. Newmont and Goldcorp continue cooperating with other regulatory agencies to secure the remaining approvals that are conditions to closing.
“We continue making steady progress in securing the necessary approvals to close our transaction with Goldcorp in the second quarter as previously announced,” said Gary Goldberg, Newmont’s Chief Executive Officer. “We also remain focused on systematically advancing our plans to ensure a safe and smooth combination after the shareholder votes in April. Once the transaction is complete, Newmont Goldcorp will be the world’s leading gold company and represent the best path to creating long-term value for our shareholders and other stakeholders without exposing them to unnecessary jurisdictional and other risks.”
The companies said the pending combination of Newmont and Goldcorp will feature an unmatched portfolio of world-class operations, projects, reserves, exploration opportunities, and talent.