Gold Fields to Buy Canada’s Osisko in $1.6 Billion Deal
- Purchase to give miner full control of Canadian gold project
- Transaction comes as the price of the precious metal surges
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Gold Fields Ltd. agreed to buy Canada’s Osisko Mining Inc. in a deal valued at C$2.16 billion ($1.6 billion) as soaring prices for the precious metal drive producers to seek expansion.
The acquisition, which gives Gold Fields full control of a project in Canada, is the latest step by the South African miner to diversify away from the country where it made its name. Those efforts included a failed bid for Toronto-based Yamana Gold Inc. two years ago.