Northern Star Resources has completed a $5 billion acquisition of De Grey Mining, gaining control of the Hemi gold project amid record gold prices.
Target Information
Northern Star Resources has successfully completed a $5 billion acquisition of De Grey Mining, giving them control of the newly discovered Hemi gold project located in Western Australia’s Pilbara region. This acquisition represents a strategic move to bolster Northern Star's portfolio amidst soaring gold prices and aims to capitalize on the potential of the Hemi deposit, which is estimated to contain approximately six million ounces of gold.
The transaction was overwhelmingly supported by De Grey Mining shareholders, receiving a 99.64% approval vote at a recent meeting. The acquisition values De Grey’s shares at $2.08 each and comes on the heels of substantial interest from stakeholders, notably Gold Road Resources, which holds a significant stake in De Grey and has vocally backed the takeover.
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Industry Overview in Australia
The Australian mining sector has witnessed significant growth, particularly in gold production, as prices reached record highs. As of early April 2025, the Australian dollar gold price surpassed $5,000 per ounce, a nota
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Northern Star Resources
invested in
De Grey Mining
in 2025
in a Buyout deal
Disclosed details
Transaction Size: $5,000M