Australia’s Saracen Mineral Holdings Ltd said on Monday it would buy Canadian-listed Barrick Gold Corp’s 50% stake in the Super Pit gold mine in Western Australia for $750 million.
The Super Pit is one of Australia’s largest gold mines with an average production of 660,000 ounces per annum at an all-in sustaining cost of about A$1,100 per ounce, according to Saracen.
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