Deals
Newcrest Pounces on Canada Mine as Gold M&A Spree Rolls On
- Producer to control Imperial Metals joint venture in Canada
- No. 3 gold producer has balance sheet for more deals: CEO
Photographer: Will Burgess/Bloomberg
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Newcrest Mining Ltd., the third-biggest gold producer by market value, agreed a $806.5 million deal to control an Imperial Metals Corp. mine in Canada, extending the spree of deal-making in the sector.
Melbourne-based Newcrest, with assets in Australia, Indonesia and Papua New Guinea, will acquire a 70 percent joint-venture interest in the Red Chris copper and gold mine in British Columbia and become the operator of the site, the producer said Monday in a statement.