Australian gold miner Newcrest Mining Ltd has raised its holdings in Ecuador gold and copper developer SolGold, nudging further ahead of the company’s second biggest investor BHP Group .
Newcrest International paid 11.148-million pounds for 27.87-million shares of SolGold at 0.40 pound a share, a premium of 12.8%. That raised its stake to 15.33% from 13.83%, Newcrest said in a filing to the London bourse, further ahead of BHP’s 11.1% holding.