Gold Fields to buy Osisko Mining for $1.57 billion

Gold Fields is acquiring Osisko Mining for $1.57 billion, gaining full ownership of the Windfall gold project in Canada.

The deal offers 4.90 Canadian dollars per Osisko share, a 67% premium over its last closing price.

Gold Fields' CEO, Mike Fraser, highlighted the project's potential, with Windfall expected to produce 300,000 ounces of gold annually at an all-in sustaining cost of $758 per ounce.

Environmental permitting is ongoing, with final approval anticipated in 2025. The acquisition is set to be finalized in the fourth quarter of 2024.

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