The value of mergers and acquisitions in the Western Australian gold sector over the past 12 months has reached close to $650 million, analysis by Business News has found.
Northern Star Resources looks set to emerge as the fifth biggest gold mine operator in Western Australia following its $75 million acquisition of Barrick Gold's majority stake in the East Kundana joint venture and the Kanowna Belle mine.
Saracen Mineral Holdings has purchased the Thunderbox gold project from Norilsk Nickel for $23 million, in a deal which could double the company's production to up to 270,000 ounces per year.
SPECIAL REPORT: The past 12 months have been tough for WA's corporate finance professionals, but there is cautious optimism that 2014 will be a different story.
Western Australia's gold sector is rallying against a potential increase in royalty rates, saying such a move would significantly hurt country towns as well as local producers of the precious metal.
The sale of 16 private businesses worth an estimated $500 million helped to sustain activity in what was otherwise a depressed market for mergers and acquisitions in the September quarter in Western Australia.
Ramelius Resources has secured an agreement to raise $5 million, which it will use to finalise its acquisition of the Vivien gold project from Gold Fields subsidiary Agnew Mining.
This week in Business News: Woodside Petroleum makes progress in its floating LNG projects. This week's print edition looks at emerging opportunities for Indigenous businesses. Gold Fields announces the acquisition of 3 gold mines in the Yilgarn region
South African miner Gold Fields will splash $US300 million purchasing Barrick Gold's Granny Smith, Lawlers and Darlot gold mines in the Yilgarn region, near Southern Cross, and plans to integrate t
Just under 40 jobs are set to go as international gold miner Gold Fields makes the move from owner-operated mining to a contracting model at its Agnew underground mine east of Kalgoorlie.
Balcatta-based Conquest Mining has activated the dispute resolution process in a bid to clarify its joint venture partner, Gold Fields, commitment to exploration of Mt Carlton gold-cilver-copper project and other regional tenements in Queensland.
Gold Corporation, the WA Government-owned operator of The Perth Mint and 40 per cent owner of the AGR Matthey gold refining joint venture, has announced an after tax profit of $7 million compared to the previous year's result of $4.8 million, it announced
Balcatta-based mineral explorer Conquest Mining Ltd has signed a joint venture agreement with South African company Gold Fields Ltd's Australian subsidiary, allowing it to earn a 51 per cent stake in part of its Central Queensland landholdings.
Gold Corporation, the WA Government-owned operator of The Perth Mint and 40 per cent owner of the AGR Matthey gold refining joint venture, has announced an after tax profit of $4.84 million compared to the previous year's result of $1.35 million.
One of the world's largest gold producers has gained a significant foothold in the Tanami-Arunta province, near the border between WA and the Northern Territory.
