The merger between Newmont and Goldcorp will create the world's largest gold producer, but Canada will lose some of its identity as a mining hub, said Rob McEwen, CEO of McEwen Mining.

"It will, I think, reduce the corporate contribution to society. When the head office moves on to another country, so does the corporate heart, so we will lose it, as we lost the base metals," McEwen told Kitco News.

On the value that the merger would bring to Newmont, McEwen said that "Randgold got a better deal when it combined with Barrick than Newmont and Goldcorp, just in terms of the quality of the asset that they have."

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This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.