Osisko Mining (TSX:OSK) is set to be acquired by South African miner Gold Fields in a transaction valued at C$2.16 billion.
The acquisition of Osisko Mining by Gold Fields will enable the South African miner to expand its footprint in the Americas, where it already operates mines in Chile and Peru. This acquisition grants Gold Fields complete ownership of the high-grade Windfall Project in Québec, which it is jointly developing with Osisko.
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Commodity prices
As of the time of this writing Tuesday, the price of gold sits at US$2,466.60 per ounce, which is up significantly from $2,386.17 in last week’s update, according to data from Kitco.com.
This week in gold
- OceanaGold (TSX:OGC) reported that a worker at its Didipio Mine in the Philippines recently died after serious head injuries sustained in late July. The incident occurred as the worker attempted to clear a metal blockage from a jaw crusher.
- Barrick Gold (TSX:ABX) reports an increase in earnings and production for Q2, effectively putting the company on track for a strong second half of the year.
- Palamina (TSXV:PA) has begun drilling at the Sol de Oro zone on its 100-per-cent-owned Usicayos project in Peru.
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(Top image of gold bars: Adobe Stock)