KALGOORLIE (miningweekly.com) – Gold miner Saracen Mineral Holdings has bucked the trend at this year’s Diggers & Dealers, saying that the company is not in the market for any large acquisitions.
Speaking on the sidelines of the conference, MD Raleigh Finlayson said that merger and acquisition opportunities would be focused more on ‘bolt on’ opportunities around its existing projects.
"Our sole focus is on a 200-km radius, and it is important for us to continue to invest heavily in that business and not get distracted,” Finlayson said.
Saracen earlier this year revealed that it would spend some A$112-million on growth capital in this financial year, including on the expansion of the Carosue Dam mill to 3.2-million tonnes, and achieving steady state production of 400 000 oz/y.
A further A$50-million would be spent on exploration in the region over the same period.