Newmont merger approved

The U.S. Securities and Exchange Commission has approved the proposed merger between Battle Mountain Gold (BMG-N) and Newmont Mining (NEM-N).

Battle Mountain has scheduled an extraordinary shareholders meeting for Jan. 5, with the deal’s closure expected to follow shortly thereafter.

The proposal, announced in June, would see Battle Mountain shareholders exchange each share held for 0.105 share of Newmont.

Noranda (NOR-T), which owns a 28% equity interest in Battle Mountain, has already agreed to tender its shares. It stands to gain a 4% equity stake in Newmont.