A major Canadian mining company with local interests is being bought by an American rival.
In a $10-billion US deal, Newmont Mining will buy Canadian miner Goldcorp, forming what will be one of Canada's largest gold producers - the combined company will be named "Newmont Goldcorp", with current Newmont shareholders to own 65%, and Goldcorp shareholders to own the remaining 35%.
While directors of both companies have given their unanimous support, shareholders must still give approval, and there will be regulatory hurdles in multiple countries, as both companies have operations in several countries.
Goldcorp has four operating mines in Canada - three in Northern Ontario - with work underway on the Borden Gold project in Chapleau, set to be Canada's first all-electric underground mine.