Goldcorp has completed the acquisition of Canada-based Kaminak Gold for C$520m ($404m).
Goldcorp will have access to Kaminak's wholly owned asset Coffee Gold open-pit, heap leach mining project located 130km south of Dawson city in Yukon.
Go deeper with GlobalData
The land package consists of more than 60,000ha and demonstrates potential for near-mine discoveries and mineralisation remains open along strike and at depth.
Goldcorp president and CEO David Garofalo said: "The acquisition of Kaminak and its Coffee project in the Yukon is consistent with our strategy of populating our asset pipeline with opportunities that are accretive to net asset value per share.
"With a large, geologically prospective land package in a mining friendly jurisdiction, the Coffee project has the potential to grow into a camp to deliver long-term significant sustainable value for our partners and stakeholders.
See Also:
“Kaminak has done an excellent job engaging with First Nations throughout the initial exploration phases, which will serve as a solid foundation for us to build upon as the project enters the next phase of development."
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataAt present, Coffee has total indicated gold mineral resources of three million ounces inclusive of total probable gold mineral reserves of 2.2 million ounces, and total inferred gold mineral resources of 2.2 million ounces.
Goldcorp acquired all of the issued and outstanding common shares of Kaminak and now owns 100% of the outstanding Kaminak shares.
