Newmont (NYSE: NEM) (TSX: NGT), the world’s No. 1 gold miner, completed on Monday the acquisition of GT Gold, after it grabbed the remaining 85.1% of common shares of the Canadian explorer it did not already own.
The C$393 million ($325m) cash deal, first announced in March, gives the US-based gold giant the Tatogga gold-copper project, located in the Traditional Territory of the Tahltan Nation.
“With the acquisition of GT Gold and the Tatogga project in the highly sought-after Golden Triangle district of British Columbia, Canada, Newmont continues to strengthen our world-class portfolio,” Newmont president and CEO Tom Palmer said in the statement.
Tatogga is just about 14km west of Imperial Metal’s Red Chris copper-gold mine in northwest British Columbia.
The copper-gold project, which includes the primary Saddle North asset, has the potential to contribute significant gold and copper annual production to Newmont’s overall output.
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