A South African company is preparing to become co-owner of the Canadian Malartic gold mine, which is the largest in Quebec and Canada.
Developed by the Quebec company Osisko, the mine was sold, in equal shares, to the Toronto firms Agnico Eagle and Yamana Gold in 2014.
Other 50% Ontario
Yesterday, Yamana announced that it has accepted a US$6.7 billion (about C$8.5 billion) takeover bid from South African firm Gold Fields. The Canadian Malartic mine, located in Malartic, about thirty kilometers from downtown Val-d’Or, will therefore become half South African.
“This is a tremendous opportunity for our shareholders, our employees and the local communities in which we operate across the Americas,” Yamana Gold Executive Chairman Peter Marrone said in a statement. communicated.
Company more than a century old
Founded in 1887, in London, Gold Fields is one of the oldest gold companies in the world.
Its head office is in Johannesburg, South Africa’s largest city.
The acquisition of Yamana will make it the world’s fourth largest player in this sector.
Once the transaction is completed, Gold Fields will have mines in South Africa, Canada, Ghana, Australia and South America.
Canadian Malartic is the largest asset of Yamana, which became a gold producer in 2003, nine years after the company was founded.
Promising projects
In addition, the acquisition will allow Gold Fields to acquire two promising gold projects in Quebec: Odyssey, in Malartic (with Agnico Eagle), and Wasamac near Rouyn-Noranda.
In a file published in the last few days, The newspaper revealed that 20 of the 22 active mines in Quebec were owned by companies from outside the province.