Papua New Guinea—Dentons, the world’s largest law firm, advised Newmont Corporation (Newmont) on the Papua New Guinean aspects of its AU$26 billion acquisition of 100% of the issued shares in Newcrest Mining Limited. The acquisition was successfully implemented on 6 November 2023, through an Australian scheme of arrangement.
Under this landmark deal, Newmont has expanded its portfolio of assets, to now include the world class Lihir gold mine and participation in the Wafi-Golpu joint venture in Papua New Guinea. Dentons played a crucial role in assisting Newmont with obtaining relevant regulatory approvals and facilitating the listing of Newmont PDIs on the PNGX.
The Dentons team, consisting of Head of PNG Stephen Massa, Corporate Partner Steve Patrick and Managing Associate Rachel Austin, worked closely with Senior Partner Lady Winifred Kamit and Senior Associate Komdal Lonagata. Their expertise, combined with the highly PNG experienced support base in Australia, ensured a seamless execution of the transaction.
Steve Patrick, lead partner on the transaction, expressed his pride in the firm’s involvement in Papua New Guinea’s prominent mining industry, stating, “This transaction is an example of Dentons’ strong Papua New Guinea expertise particularly in mining and M&A, and its seamless integration with our highly PNG experienced Australian practice.”
Dentons’ market-leading mining and resources sector expertise extends beyond this transaction. The firm advised Santos on the Papua New Guinea aspects of its A$22 billion all-scrip merger with Oil Search, further solidifying its position as a trusted advisor in the industry.
KWM acted for Newmont on all Australian aspects of the acquisition.
