Official press releases from Gold Fields or Osisko Mining, financial news outlets like Bloomberg or Reuters

Gold Fields to Acquire Osisko Mining for C$2.16 Billion, 55% Premium

Aug 12, 2024, 05:54 AM

Gold Fields, a South African mining company, has announced its intention to acquire Canadian miner Osisko Mining in a deal valued at approximately C$2.16 billion ($1.6 billion). This acquisition is part of Gold Fields' strategy to secure more supply amid rising prices for precious metals. The transaction, which is an all-cash deal, offers a 55% premium to Osisko's 20-day volume-weighted average price (VWAP). The move will give Gold Fields full control of a Canadian gold project, marking a significant consolidation in the mining industry.