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Northern Star raises cash to buy Pogo

North of 60 Mining News – September 8, 2018

 

Last updated 9/25/2020 at 6:30am

Australia miner Northern Star Resources buys Pogo gold mine in Alaska

Shane Lasley

In 2017, the mill at Pogo produced 271,273 ounces of gold from high-grade ore averaging 19.8 grams per metric ton gold.

Northern Star Resources Ltd. Sept. 3 raised AU$175 million to help fund its acquisition of the Pogo gold mine in Alaska.

In a deal announced on Aug. 30, the Australia-based miner has agreed to pay US$260 million to buy out Sumitomo Metal Mining Pogo, a joint venture between Japanese firms Sumitomo Metal Mining Company (85 percent) and Sumitomo Corp. (15 percent) that owns and operates the mine....



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