Global miner Gold Fields has agreed to acquire Canadian-based Yamana Gold in an all-share deal that values the latter at US$6.7 billion. The transaction will make Gold Fields a top-four global gold major.
Gold Fields said on June 1 that the acquisition significantly strengthens its ability to deliver on its three strategic pillars: maximizing asset potential, advancing ESG commitment, and growing the value and quality of its asset portfolio.
Under the terms of the transaction, all of the outstanding Yamana shares will be exchanged at a ratio of 0.6 of an ordinary share in Gold Fields. Upon closing, it is anticipated that Gold Fields and Yamana shareholders will own approximately 61% and 39% of the combined company, respectively.
Yamana’s portfolio of assets include the Cerro Moro gold-silver operation in Argentina, the El Peñón underground gold-silver mine in Chile, and the Jacobina gold mining complex in Brazil.