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

By Shane Lasley
Mining News 

Agnico Eagle cuts deal to acquire TMAC

Buy-out applauded as win for shareholders, Nunavut, Canada North of 60 Mining News – January 8, 2021

 

Last updated 1/14/2021 at 5:55pm

TMAC Resources Inc. Shandong Gold Mining Co. Ltd. Agnico Eagle Mines Ltd.

TMAC Resources Inc.

TMAC Resources' Hope Bay Mine in northern Nunavut.

In what could be the best outcome of Ottawa blocking Shandong Gold Mining's bid to acquire TMAC Resources Inc., Agnico Eagle Mines Ltd. has agreed to buy out its fellow Nunavut gold miner for C$286.6 million.

TMAC Resources, which got off to a rocky start of operations at its Hope Bay gold mine in Nunavut, has been looking for a company with the financial wherewithal and mining expertise to mak...



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