Published by Jaroslaw Adamowski
New takeover Canadian gold miner Centerra Gold has agreed to acquire AuRico Metals for some C$310 million ($243 million).
"AuRico Metals is a mining development and royalty company with a 100% interest in the Kemess property in British Columbia, Canada. The Kemess property hosts the feasibility-stage Kemess underground gold-copper project, the Kemess East Project, and the infrastructure pertaining to the past producing Kemess South mine," the Canadian company said in a statement.
AuRico’s Kemess project in Canada’s British Columbia is a low-cost brownfield development asset. In addition to this asset, AuRico owns a royalty portfolio that includes a 1.5% net smelter return royalty on the Young-Davidson gold mine in Ontario and a 2.0% NSR royalty on the Fosterville mine in Australia.
Centerra Gold says its flagship assets comprise the Kumtor Mine in the Kyrgyz Republic and the Mount Milligan Mine in Canada.