Gold miner Evolution open to more North America, Australia deals
Evolution Mining will consider acquisitions in Australia and North America and hasn’t ruled out buying assets from Northern Star Resources should they come to market.
Evolution is looking at more deals after buying a copper and gold project close to its Ernest Henry mine in Queensland, CEO Lawrie Conway told Bloomberg TV on Thursday.
“We’re always looking for opportunities.” Conway said, “We’ve always said tier-one jurisdictions, that is in Australia and North America.”
Dealmaking across the gold mining sector has surged over the last 12 months, driven by soaring prices. Bullion has risen nearly 80% in two years and was trading at almost $4 500 an ounce on Thursday.
Last month’s purchase of Carnaby Resources was valued at about A$213-million ($152-million). Any further deals would be of a similar nature, Conway said. Should Evolution’s peer Northern Star look to divest assets, he said the company would “certainly have a look.”
Northern Star is currently reviewing its portfolio after facing pressure from activist investor Elliott Investment Management to sell mines or even the whole company.
Evolution posted net income of A$1.48 billion for the full year, up 59% on the same period last year, owing to high gold prices and strong production, the company said Wednesday.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Projects
Latest Multimedia
Latest News
Showroom
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
