Newmont Corp. says it has cleared all required regulatory approvals to move forward with its proposed US$19.2-billion acquisition of Newcrest Mining Limited.

In a Wednesday press release, Newmont announced that the proposed sale had been cleared by the Securities Commission of Papua New Guinea and by the Philippine Competition Commission.

With those approvals in place, Newmont said all necessary government regulatory approvals have now been obtained for the transaction. 

Newmont president and CEO Tom Palmer thanked the government of Papua New Guinea, saying the company looks forward to “building strong and mutually beneficial partnerships” through developing gold and copper mining projects in the country.

Newmont and Newcrest now expect the transaction to close in the fourth quarter of this year.

Shareholders in Newmont will vote on the sale on Oct. 11 and Newcrest investors will vote on Oct. 13.

Newmont announced the definitive agreement to acquire Newcrest in May. The US$19.2-billion deal would consolidate the company’s position as the world’s largest bullion producer.

The acquisition has been unanimously approved by Newcrest’s board. 

With files from Bloomberg News.