Newmont, Miramar merger granted Canadian approval

By Lisa Kerner

Charlotte, N.C., Dec. 18 - The Minister of Industry approved Newmont Mining Corp.'s acquisition of Miramar Mining Corp. under the Investment Canada Act.

Newmont's offer to acquire the common shares of Miramar for C$6.25 each ends at 5 p.m. ET on Dec. 21. Total value of the transaction is C$1.5 billion.

MacKenzie Partners, Inc. is the information agent for the offer.

"With the necessary regulatory approvals from the Canadian authorities, we look forward to completing this investment and focusing on the disciplined development of the Hope Bay Project for the benefit of Newmont's shareholders, Nunavut and the communities near Hope Bay," Newmont president and chief executive officer Richard O'Brien said in a company news release.

Newmont is a Denver-based mining company. Miramar is a North Vancouver, B.C.-based gold mining company.

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