Noosa News
Super Pit mine merger approved with near full support creating world’s eighth-biggest gold producer
Shareholders have overwhelmingly voted to approve a $16 billion merger between the co-owners of Kalgoorlie-Boulder’s Super Pit, a deal described by analysts as “sensible” which could prolong the life of one of Australia’s biggest gold mines.
Key points:
- The owners of the Super Pit each spent $1.1 billion to acquire 50 per cent stakes in the gold mine in November 2019 and January 2020
- The deals put the mine in 100 per cent Australian ownership for the first time in the pit’s 31-year history
- After less than a year as partners, Northern Star Resources and Saracen Mineral Holdings announced a $16 billion merger in October
At a shareholder meeting today, 99.62 per cent of proxy votes were in favour of combining Perth-based miners Northern Star…
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