{"id":1155943,"date":"2019-12-16T17:45:24","date_gmt":"2019-12-16T23:45:24","guid":{"rendered":"https:\/\/www.mining.com\/?p=1009393"},"modified":"2019-12-16T17:45:24","modified_gmt":"2019-12-16T23:45:24","slug":"northern-star-to-acquire-newmonts-stake-in-super-pit-for-800-million","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1155943","title":{"rendered":"Northern Star to acquire Newmont\u2019s stake in Super Pit for $800 million"},"content":{"rendered":"<p>Northern Star Resources (ASX: NST) <a aria-label=\"announced Monday (opens in a new tab)\" href=\"http:\/\/www.nsrltd.com\/wp-content\/uploads\/2019\/12\/Northern-Star-to-Acquire-50-per-cent-of-KCGM-Super-Pit-17-12-2019.pdf\"  rel=\"noreferrer noopener\">announced Monday<\/a> that the company has agreed to buy Newmont Goldcorp&#8217;s 50% stake in Western Australia&#8217;s Kalgoorlie Super Pit mine and its associated assets. Once completed, the iconic mine would have full Australian ownership for the first time in its operating life.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The Super Pit is one of the most significant gold systems in the world, with an estimated 80 Moz endowment and a world-class gold content of 45,000-60,000 oz per vertical metre.<\/p>\n<p>Earlier this year, Northern Star was <a aria-label=\"rumored to be the frontrunner (opens in a new tab)\" rel=\"noreferrer noopener\" href=\"https:\/\/www.mining.com\/northern-star-goes-after-barrick-golds-super-pit\/\" >rumored to be the frontrunner<\/a> for Barrick Gold\u2019s 50% stake in the Super Pit mine, which was snatched up by fellow Australian miner Saracen Mineral Holdings last month for $750 million.<\/p>\n<p>This time, Northern Star was able to secure the remaining portion of the highly coveted gold asset with a total cash offer of $800 million. <\/p>\n<p>To fund the purchase, Northern Star has arranged a fully underwritten private placement of shares at a 6.7% discount to the Friday&#8217;s closing price to raise A$765 million ($700 million).<\/p>\n<p>This acquisition would create &#8220;substantial value&#8221; and provide enormous &#8220;short, medium and long term opportunities&#8221; for Northern Star, executive chairman Bill Beament stated in a media release. <\/p>\n<p>Total resources across the company&#8217;s operations would increase to 28.3 Moz, including 9.8 Moz in reserves.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Earlier this year, Northern Star was rumored to be the frontrunner for Barrick Gold&rsquo;s 50% stake in the Super Pit mine.<\/p>\n","protected":false},"author":88,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2849,369,2640],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1155943"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/88"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1155943"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1155943\/revisions"}],"predecessor-version":[{"id":1155945,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1155943\/revisions\/1155945"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1155943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1155943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1155943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}