Credit: T.Schneider via Shutterstock.
Barrick denies claims of potential First Quantum takeover
Barrick Gold has denied claims made in a Canadian newspaper that one of its executives had met with First Quantum representatives in Panama last week to discuss buying the troubled copper miner. Bloomberg had also reported that Barrick was gauging support for a potential deal with First Quantum. Barrick denied that a meeting had taken place in Panama. Its chief executive Mark Bristow is understood to consider Panama a difficult jurisdiction to operate in.
Australian uranium company Paladin secures $150m debt facility
Paladin Energy has executed a $150m syndicated debt facility as it prepares to recommence operations at the Langer Heinrich Mine in Namibia. This move is aimed at providing the ASX-listed uranium company with the financial flexibility necessary for its growth and operational activities. The facility will also support Paladin’s growth options including the advancement of the Michelin exploration project in Canada.
Steppe Gold to acquire Boroo Gold in all-share deal
Mongolia-based Steppe Gold has signed a binding term sheet for the acquisition of all issued and outstanding common shares of compatriot Boroo Gold. The all-share deal is poised to result in the formation of Mongolia’s largest gold producer. Steppe Gold will issue shares that will result in Boroo PL, the beneficial shareholder of Boroo Gold, holding a 58.8% interest in Steppe Gold upon completion.
AngloGold Ashanti picks 11.7% stake in G2 Goldfields
South African miner AngloGold Ashanti has completed the acquisition of an 11.7% stake in Canada’s G2 Goldfields for C$22.05m ($16.4m). The transaction involved the purchase of 24.5 million shares at C$0.90 per share, with the net proceeds to support exploration at G2 Goldfields’ Oko project in Guyana. The acquisition of these shares has provided the AngloGold with a significant, non-diluted interest in the company.