Toronto-listed Endeavour Mining on Thursday announced shareholder approval for its acquisition of Teranga Gold.
Through the deal, unveiled in November, Endeavour would be transformed into a top ten senior gold producer and the largest gold producer miner in West Africa.
“The combined entity will boast a high-quality portfolio of mines and projects, sustainable dividends, a healthy balance sheet, strong cash flow generation and an improved capital markets profile. We look forward to closing the transaction and quickly integrating our highly complementary assets to unlock the anticipated material synergies,” commented Endeavour CEO Sebastien de Montessus.
The merged entity would comprise six core operating mines in three countries – Senegal, Burkina Faso and Côte d’Ivoire.
The new company would also have the largest exploration portfolio across the underexplored West African Birimian Greenstone Belt.