South African gold producer Gold Fields has finalized its $1.39 billion acquisition of Canada-based mineral exploration company Osisko Mining.
The deal, initially agreed upon in August, grants Gold Fields full ownership of the Windfall project, which was previously co-owned by both companies. The Windfall project has an expected mine life of ten years.
To complete the acquisition, Gold Fields utilized $1.39 billion in net cash, drawing from its available cash reserves, undrawn debt facilities, and a $750 million liquidity facility established in October 2024.
This acquisition is expected to enhance Gold Fields’ financial outlook, with anticipated cash flow growth for the remainder of 2024 and into 2025.
