Newcrest Opens Field for Gold M.&A.'s After Lihir

June 14, 2016

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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.

Category: General, Gold, Kinross