Gold Fields Is Set To Acquire Canadian Metals Producer Yamana Gold
Gold Fields Is Set To Acquire Canadian Metals Producer Yamana Gold. Gold Fields has announced that it has entered into a definitive agreement to acquire Canadian metals producer Yamana Gold. The transaction is set to advance Gold Fields’ Vision to be the preferred gold mining company, delivering sustainable, superior value.
Gold Fields Limited is a globally diversified gold producer with nine operating mines in Australia, Ghana, Peru and South Africa, including the Asanko Joint Venture in Ghana and a development project in Chile, with total attributable annual gold-equivalent production of approximately 2Moz. Chris Griffith, Chief Executive Officer of Gold Fields said in a statement, “Today we are announcing the acquisition by Gold Fields of Yamana, two companies with complementary portfolios, cultures and strategic priorities. The result is a combination with much greater capacity and potential value than the sum of its parts. Each company brings with it a unique set of skills and geological knowledge, enabling the Combined Group to enhance its assets more efficiently over the long-term than they could as separate companies.”
He continued to say, “Today’s announcement is the result of a robust and extensive process carried out by the Gold Fields’ Board and management team to identify the optimum solution to support our revised strategy. Yamana’s high-quality asset base in the Americas and strong development and exploration pipeline will further diversify the geography of our portfolio, creating a top-4 global gold major, well positioned to deliver long-term value creation. Combined, Gold Fields will boast an industry leading portfolio of high-quality, long-life flagship assets that span some of the world’s most established gold mining jurisdictions.”
Yamana Gold is a Canadian-based precious metals producer with significant gold and silver production, development stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile and Argentina
