Northern Star to Acquire KCGM Super Pit

  • Dec 17, 2019 AEDT
  • Team Kalkine

Northern Star Resources (ASX: NST) has agreed with Newmont Goldcorp Corporation’s Australian subsidiary to acquire 50 per cent of the Kalgoorlie Super Pit gold mine for USD 775 million and some additional assets for USD 25 million.

  • KCGM is a 50:50 joint venture between Saracen Mineral Holdings Limited (ASX: SAR) and Newmont.
  • The deal will be funded through a $765 million institutional placement, a $480 million debt and a share purchase plan targeting up to $50 million.

At AEDT 12:46PM, the stock was trading at $9.650 per share, unchanged against its previous close on ASX.

 

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