Newmont grabs Goldcorp in $10B deal that creates world's top gold miner

US gold giant Newmont Mining (NYSE:NEM) took a page out of Barrick’s book by announcing that is buying Canada’s Goldcorp (TSX:G) (NYSE:GG) in a $10 billion-deal that would create in a $10bn deal that would create the world’s largest producer by output, challenging Barrick’s recently cemented supremacy.

The combined company will be called Newmont Goldcorp and create “an unmatched portfolio of operations, projects, exploration opportunities, reserves and people in the gold mining sector,” the parties said.

The deal comes barely three months after Barrick move on Randgold Resources, which created the world’s No. 1 gold company and prompted speculation that rivals would need to respond.

The two massive gold transactions have the potential to boost investor interest in an industry that has fallen out of favour after years of weak metal prices, dubious investments and failed deals. Canada’s Goldcorp , the world's third largest bullion producer by market value, has underperformed its peers in recent years, losing 26% of its value over the past 12 months.

More to come…