Latest Deals

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Mid-tier Australian gold producer Gold Road Resources has entered an agreement with Gruyere Holdings, a wholly owned subsidiary of Gold Fields, to divest 100% of the issued and outstanding share capital for A$3.7bn ($2.4bn). The total cash consideration amounts to A$3.40 per share, suggesting an enterprise value for Gold Road of approximately A$2.6bn. The deal will strengthen Gold Fields’ 50% stake in the jointly operated Gruyere mine located in WA. The deal is expected to be finalised in October 2025.

Macmahon Holdings has secured a two-year underground mining services contract valued at A$105m ($67.2m) for the Deflector underground gold copper mine in WA. The contract may be extended beyond the initial two-year period by mutual agreement. Furthermore, Genesis Minerals has also confirmed Macmahon as the mining contractor at the Gwalia and Ulysses gold projects in the Leonora region of WA, contributing an additional A$67m to Macmahon’s orderbook.

US-based coal producer Peabody Energy has raised concerns over its planned acquisition of Anglo American’s Tier 1 Australian steelmaking coal assets, citing a material adverse change related to the Moranbah North coal mine in Queensland’s Bowen basin in Australia. The mine, part of the acquisition, has been inactive since a gas ignition event on 31 March. Peabody indicated that it may withdraw from the agreement if the issues are not resolved within a specified time frame.

Australian mining company Alkane Resources has signed a definitive agreement with Canadian miner Mandalay Resources for a “merger of equals” to create a diversified gold and antimony producer. The estimated implied market capitalisation of the merged company is C$898m (A$1bn). The merged entity will operate under the name Alkane Resources, maintaining its Australian Securities Exchange (ASX) listing and aiming for a Toronto Securities Exchange (TSX) listing.