M&As this week: Goldcorp, Keysha Investments 178
Goldcorp has acquired Kaminak Gold, providing the company ownership to the Coffee Gold open-pit, heap leach mining project, located 130km south of Dawson city, Yukon Territory, Canada. The acquisition was made in exchange for C$520m ($404m).
The project, which currently has probable mineral reserves of 46.4 million tonnes (Mt) grading 1.45g/t Au and contains 2.15 million ounces (Moz) gold, is anticipated to start production in late-2019.
Keysha Investments 178 and Mineral Commodities have entered a memorandum of understanding (MoU), under which the former has proposed to acquire a 56% stake in the latter’s Transworld Energy and Resources (TEM). TEM owns the Xolobeni Mineral Sands Project in South Africa.
The divestment of the stakes in TEM by Mineral Commodities of Australia will enable the project to be fully managed by South African stakeholders and organisations, in line with the demand of the local Xolobene community.
The terms and details of the transaction are expected to be announced on signing of the definitive sale agreements.