B2Gold Corp has inked a $1.1 billion deal to acquire Sabina Gold \u0026amp\u003B Silver Corp., a miner that’s developing a project in Nunavut. Read more
has its headquarters in Vancouver and is listed on the Toronto Stock Exchange, it doesn’t currently produce any gold in Canada. It mines in Mali, the Philippines and Namibia and is exploring projects in Uzbekistan, Finland and Colombia.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
The agreement comes as the gold sector is undergoing more consolidation. On Feb.5, Newmont Corp., the world’s largest gold miner by output,Newcrest Mining Ltd., Australia’s largest gold miner, for the equivalent of US$17 billion. In this latest deal, B2Gold will issue 0.3867 of a common share of the company for each Sabina share that represents a value of about $1.87.
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