Newmont Mining Corp said today it would buy smaller rival Goldcorp Inc. in a deal worth $10 billion, creating the world's biggest gold producer in the face of dwindling easy-to-find reserves of the precious metal.
The deal, the second high-profile merger in the mining industry since Barrick Gold Corp. agreed to buy Randgold Resources Ltd. in September last year, comes as the industry looks for ways to cut costs and increase scale.
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