Northern Star Resources (ASX:NST) set to acquire 50% of Super Pit

Company News

by Rachael Jones

Northern Star Resources (ASX:NST) is set to acquire 50 per cent of Western Australia's Super Pit gold mine.

They are looking to raise US$765 million to fund its purchase of Newmont Goldcorp's 50 per cent stake.

The acquisition price is $US800 million that’s $1.16 billion which will be funded via the raising proceeds and another $480 million in debt.

They have entered into a binding sale agreement with Newmont Goldcorp Australia, a subsidiary of Newmont Goldcorp Corporation, to acquire all the shares in Kalgoorlie Lake View which holds a 50 per cent interest in Kalgoorlie Consolidated Gold Mines and in the operations and assets managed by them – including the Super Pit.

Shares in Northern Star Resources (ASX:NST) are currently in a trading halt - Last traded at $9.65.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.