Noosa News
Super Pit mine merger worth $16 billion set to be approved, creating world’s eighth-biggest gold producer
Mining analysts have described the $16 billion merger between the co-owners of Kalgoorlie-Boulder’s Super Pit as a “sensible” deal that 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 its 31-year history
- After less than a year as partners, Northern Star Resources and Saracen Mineral Holdings announced a $16 billion merger in October
Today, shareholders in Saracen Mineral Holdings will vote on the proposed tie-up with fellow Perth-based miner Northern Star Resources.
If approved as expected, the merger…
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