Australian gold giant Northen Star buys rival in $5 billion deal

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Australian gold giant Northen Star buys rival in $5 billion deal
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Northern Star’s acquisition of De Grey Mining means it will take over the flagship project, Hemi: a low-cost, large-scale gold development in WA’s Pilbara region.

Gold miner Northern Star will acquire De Grey Mining in a $5 billion deal, beefing up its gold output and making it by far Australia’s biggest ASX-listed gold producer.

Northern Star owns and operates the “super pit”, a huge open-cut mine on the edge of the Kalgoorlie township in WA’s Goldfields-Esperance region, which produces about 437,000 ounces of gold annually.

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