With International Gold Market On The Rise, South African Group Gold Fields Acquires Yamana Gold In Bahia For R$ 6.7 Billion

Written by Ruth Rodrigues

Published on 01/06/2022 at 09:59

Updated on 01/06/2022 at 13:34

Foto: Yamana Gold

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Focusing on Expanding Gold Production in Mining, Gold Fields Group Now Invests in Purchasing Yamana Gold and Will Disburse a Total of R$ 6.7 Billion for the Acquisition of the Company and Its Assets in the Segment

The company Yamana Gold confirmed last Tuesday (05/31) the sale of the company to the South African mining group Gold Fields. Thus, the transaction will be around R$ 6.7 billion for the sale of the company, and with that, the Gold Fields group will invest its efforts to expand gold production in Yamana Gold’s assets throughout the mineral segment in Brazil and worldwide.

https://twitter.com/GoldFields_LTD/status/1531524948212293632

Yamana Gold to be Sold to Gold Fields Group for a Total of R$ 6.7 Billion for Investments in Gold Mining in Brazil and Worldwide

The gold mining market is increasingly flourishing in the international mineral sector, and now, the Gold Fields group seeks new assets for its portfolio and will acquire Yamana Gold for a total of R$ 6.7 billion. The announcement was made last Tuesday, and the South African mining company is now turning its attention to gold production in Yamana Gold’s assets, particularly exploration in Brazilian territory, due to the high mineral reserves.

Additionally, it was announced that the buying and selling procedures will be finalized in the second semester of 2022, aiming to preserve all commitments with stakeholders until then. Furthermore, Yamana Gold also confirmed that the Gold Fields group will uphold the company’s ideals in pursuing ESG practices in gold production and will focus on investing in the expansion of mineral exploration in the company’s assets in the national territory and other countries.

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South African Miner Aims to Become the Third Largest Gold Production Company by 2024, Following the Acquisition of Yamana Gold’s Assets

With the acquisition of Yamana Gold and control of the company’s assets after the completion of the billion-dollar transaction, the Gold Fields group will become the fourth largest gold production company in the world. According to the group itself, expectations are to reach third place in the ranking by the end of 2024. Thus, the company’s main investment over the next two years will be in expanding mineral exploration.

Jacobina Mineração Yamana Gold issued a statement regarding the sale of the company, commenting on the future of mining in the Jacobina region, with the company’s sale to Gold Fields: “Regarding the operation in Jacobina, Gold Fields demonstrates that the municipality is part of its investment and growth plan and that the excellent results in safety, ESG, production, and operational cost of Jacobina were some of the points that attracted investors for the realization of the investment.”

Finally, the companies highlighted that the deal will create a mining company with annual gold production around 3.4 million troy ounces, surpassing the South African rival AngloGold Ashanti, ensuring Gold Fields an even greater presence in the mining sector within the international market.

With International Gold Market On The Rise, South African Group Gold Fields Acquires Yamana Gold In Bahia For R$ 6.7 Billion

Focusing on Expanding Gold Production in Mining, Gold Fields Group Now Invests in Purchasing Yamana Gold and Will Disburse a Total of R$ 6.7 Billion for the Acquisition of the Company and Its Assets in the Segment

Yamana Gold to be Sold to Gold Fields Group for a Total of R$ 6.7 Billion for Investments in Gold Mining in Brazil and Worldwide

South African Miner Aims to Become the Third Largest Gold Production Company by 2024, Following the Acquisition of Yamana Gold’s Assets

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With International Gold Market On The Rise, South African Group Gold Fields Acquires Yamana Gold In Bahia For R$ 6.7 Billion

Focusing on Expanding Gold Production in Mining, Gold Fields Group Now Invests in Purchasing Yamana Gold and Will Disburse a Total of R$ 6.7 Billion for the Acquisition of the Company and Its Assets in the Segment

Yamana Gold to be Sold to Gold Fields Group for a Total of R$ 6.7 Billion for Investments in Gold Mining in Brazil and Worldwide

South African Miner Aims to Become the Third Largest Gold Production Company by 2024, Following the Acquisition of Yamana Gold’s Assets

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A Chinese factory in Guangdong is assembling a humanoid robot every 30 minutes while Tesla, Figure, and Boston Dynamics still struggle to deliver 10 thousand per year.

While Brazil has been discussing bullet trains for 16 years, China delivers 5 new high-speed lines in 2026, surpasses 50,000 km of HSR, and moves 1 billion passengers in a single year.

With a wingspan of 152 meters, 76 tires, and a capacity to carry 1,270 tons, the Boeing Pelican was the giant “flying ship” that promised to cross oceans close to the water on an invisible air cushion beneath its wings.

While countries spend billions to draw water from the sea, a Nobel-winning scientist creates a container-sized machine that extracts up to 1,000 liters per day from dry air and uses ultrasound to release water in minutes, even in the middle of the desert.

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Chinese probe Tianwen-2 is traveling 45 million kilometers to touch Earth’s quasi-satellite Kamoʻoalewa and bring 100 grams of sample back home.

Researchers are excavating in Morocco the world’s oldest ankylosaur, dating back 165 million years, with nearly 1-meter long spines protruding from its neck.