U.S. gold mining firm Newmont has made a $17B takeover offer to Australia’s largest gold producer Newcrest Mining.  Newmont submitted a conditional and nonbinding indicative proposal to acquire Newcrest for 0.380 of its shares for each Newcrest share held. The new offer comes after Newcrest rejected a previous offer of 0.363 Newmont shares for each Newcrest share held. Newcrest’s directors had said the previous offer was too low. The new offer represents a 21% premium on Newcrest’s Friday close price. The combined entity would be one of the largest gold producers in the world. On news of the updated offer, Newcrest shares rose 10% to A$24.74 ($17.05), its highest level since May.