Newcrest Takes Shine To Lihir Gold With $8.6B Offer

Law360, New York (May 4, 2010, 12:08 PM EDT) -- Newcrest Mining Ltd. said Tuesday that it planned to buy Papua New Guinea-based Lihir Gold Ltd. in a deal valued at $8.6 billion that, according to the Australian miner, will result in the production of 2.5 million ounces of gold per year "for many years to come."

With its operations focused in Papua New Guinea, Lihir Gold was an attractive target for Newcrest, one of Australia's biggest companies by market capitalization. Precious metals mining in Papua New Guinea is about to see robust growth as operations...
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