Endeavour Mining makes $2.5B bid for Centamin after failing to reach deal

Endeavour Mining makes $2.5B bid for Centamin after failing to reach deal
TORONTO — Endeavour Mining Corp. is offering to buy Centamin PLC in a stock-swap deal that values the gold miner at roughly $2.5 billion, based on stock values just prior to the announcement. Endeavour says it made the offer after several unsuccessful attempts to engage with the board of Centamin regarding a possible merger. Toronto-listed Endeavour, which has gold mines in Africa, is offering 0.0846 of... Read More

Two workers missing at Centerra’s Kumtor mine after rockfall, operations halted

Two workers missing at Centerra’s Kumtor mine after rockfall, operations halted
TORONTO — Centerra Gold Inc. says two workers are missing after a “significant rock movement” at its Kumtor mine in the Kyrgyz Republic. The company says the incident happened at the Lysii waste rock dump and that two employees working in the area did not report to the emergency gathering area. Toronto-based Centerra says it has halted open pit mining... Read More

Evolution Mining vows to invest after buying Ontario gold complex for US$375M

Evolution Mining vows to invest after buying Ontario gold complex for US$375M
RED LAKE, Ont. — Evolution Mining Ltd. says it will invest US$150 million over the next three years in the “undercapitalized” Red Lake gold complex in western Ontario after striking a deal to buy it for US$375 million from Newmont Goldcorp Corp. In a news release, the Australian company says it plans to spend US$50 million on exploration and invest... Read More

Kirkland Lake Gold to acquire Detour Gold in stock deal worth $4.9 billion

Kirkland Lake Gold to acquire Detour Gold in stock deal worth $4.9 billion
TORONTO — Kirkland Lake Gold Ltd. has signed an agreement to acquire Detour Gold Corp. in a deal that values the company at about $4.9 billion. Under the agreement, Detour Gold shareholders will receive 0.4343 of a Kirkland Lake share for each Detour Gold share they hold. The exchange ratio implies a value of $27.50 per Detour Gold share based on... Read More

Barrick stock rises after deal struck to sell Super Pit mine stake in Australia

Barrick stock rises after deal struck to sell Super Pit mine stake in Australia
TORONTO — Shares in Barrick Gold Corp. rose on Monday after the company announced plans to sell its 50 per cent non-operating interest in an Australian gold mine for US$750 million in cash. The deal to sell its stake in Kalgoorlie Consolidated Gold Mines in Western Australia — which includes the country’s largest open pit gold mine, The Super Pit, as well as underground and... Read More

Semafo reports attack near mine in Burkina Faso, several fatalities and injuries

Semafo reports attack near mine in Burkina Faso, several fatalities and injuries
MONTREAL — Semafo Inc. says several people have been killed in an attack on a road to its Boungou Mine site in Burkina Faso. The gold miner says the incident happened about 40 kilometres from the mine. The convoy, escorted by military personnel, included five buses transporting Semafo employees, contractors and suppliers. Semafo says it has information of several fatalities... Read More

Barrick Gold reports third-quarter profit up from year ago, raises dividend

Barrick Gold reports third-quarter profit up from year ago, raises dividend
TORONTO — Barrick Gold Corp. raised its dividend as it reported a third-quarter profit boosted by a one-time gain related to its Turquoise Ridge mine, which is part of its Nevada Gold Mines venture with Newmont Goldcorp Corp. The gold miner says it will raise its quarterly dividend by a penny to a nickel per share, helped by its operational performance... Read More

Sprott Resource restarts Chilean mine after shooting death, guard injury

Sprott Resource restarts Chilean mine after shooting death, guard injury
TORONTO — Sprott Resource Holdings Inc. says it is restarting operations at its Chilean copper cathode mine after an incident on Sunday resulted in a security guard being severely injured and another person being shot to death. The Toronto-based company says the guard at the Minera Tres Valles mine was investigating damage at a security gate on Sunday morning when he was confronted... Read More