Top 10 gold producer created as Northern Star buys Saracen Mineral
The combination of the companies may mark a revival of major deal-making in the gold sector
06 October 2020 - 09:37
Melbourne — Northern Star Resources agreed to buy smaller Australian rival Saracen Mineral Holdings to boost gold output amid surging prices and create a top 10 global producer with a market valuation of about A$16bn ($11.5bn).
Adding Saracen’s assets in Australia will put the company on track to produce two-million ounces a year from fiscal 2027 and deliver as much as A$2bn in operational savings, Perth-based Northern Star, the country’s second-largest gold miner, said in a statement on Tuesday...
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