In order to establish the largest gold miner in the world, Newcrest Mining Ltd. And Newmont Corp have reached an acquisition agreement valued at approximately A$28.8 billion ($19.2 billion).

The agreement gives Newcrest an inferred enterprise value. Which takes into account net debt, of A$28.8 billion.

An agreement would likely be the culmination of a ferocious 5-year consolidation among the biggest gold miners in the world.

The suggestion from Newmont comes just after the spot trade price of gold nearly reached an all-time high over concerns about global stagflation.

Globally, gold miners are concerned about stagnant output, more difficult-to-mine resources. And growing input prices.

Newmont, on the other hand, is struggling with a decade-long gold slump & has said it wanted more of the metal for the energy transition in its portfolio.