Newcrest Mining‘s $8 billion-plus acquisition of Lihir Gold is creating a new top tier of Australian gold producers, which are already being sized up for takeovers, Reuters .
These include Thailand-focused Kingsgate Consolidated, Perseus Mining, with ground in West Africa, and Andean Resources, exploring in South America.
Takeovers have denuded the top end of the Australian gold sector, leaving only a few vehicles with which institutions can ride the gold bull market outside of Newcrest, according to Warwick Grigor, who heads BGF Capital Group.
Sino Gold fell into the hands of , is offering about $7 billion for Red Back Mining and Lihir, now Newcrest, bought Africa-focused Equigold.
