North of 60 Mining News - The mining newspaper for Alaska and Canada's North

By Shane Lasley
Mining News 

TMAC weighs Hope Bay gold mine options

Ottawa blocks China-based SD Gold's bid to buy Nunavut mine, leaving TMAC seeking ways to repay debts, expand operations North of 60 Mining News – January 1, 2021

 

Last updated 1/7/2021 at 4:26pm

Jason Neal TMAC Resources Inc SD Gold Mining Hope Bay Mine Richard Fadden

TMAC Resources Inc

TMAC Resources' Hope Bay gold mine in northern Nunavut.

In a move that prevents a Chinese state-owned company from grabbing a foothold along the Northwest Passage in Canada's Arctic, officials in Ottawa have blocked Shandong Gold Mining Co. Ltd.'s bid to acquire TMAC Resources Inc., which owns and operates the Hope Bay gold mine in the Kitikmeot region of northwestern Nunavut.

While stopping Shandong Gold Mining from acquiring the Nunavut operation...



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