China’s state-backed Zijin Mining Group has agreed to buy Continental Gold for $1bn, as the industry’s consolidation accelerates.
Zijin said it would pay C$5.50 a share for Toronto-listed Continental, a 13 per cent premium to its closing price on Friday.
Analysts have expected another burst of dealmaking in the sector since Barrick Gold bought Randgold Resources for $6bn last year, and Newmont Mining then swooped on GoldCorp in a $10bn transaction in January.
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