Deals
Gold Fields to Pay $667 Million for Stakes in Ghana Mines
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Gold Fields Ltd., the fourth-largest producer of the metal, agreed to buy Iamgold Corp.’s interests in its Tarkwa and Damang mines in Ghana for $667 million to increase its output and reserves.
It’s a “relatively low-risk transaction that should increase the company’s international production and lower its overall cost of producing gold,” Gold Fields said today in a statement. The company already operates the mines and has a 71.1 percent stake, while Toronto-based Iamgold owns 18.9 percent.