MELBOURNE: According to Australian gold miner Northern Star Resources, it will buy De Grey Mining in an all-share deal valuing the smaller miner at A$5bil (US$3.3bil) as high gold prices spur consolidation in the sector.
For Northern Star, the deal offers low-cost, medium- to longer-term growth through access to De Grey’s Hemi gold development project in Western Australia, which will ramp up toward the end of the decade.
