Genesis completes A$250m Laverton acquisition
Gold miner Genesis Minerals has completed the acquisition of the Laverton gold project from Focus Minerals, paying A$250-million in cash for the asset.
Described as a "bolt-on acquisition", the Laverton project adds four-million ounces of resources to Genesis’ portfolio and strengthens the company's position in Western Australia's gold sector.
The project is located about 30 km from Genesis’ existing three-million-tonne-a-year Laverton mill and is expected to provide both openpit and underground ore. This enhances operational flexibility and allows for improved ore and processing integration across Genesis’ Laverton and Leonora operations.
Focus Minerals, meanwhile, confirmed receipt of the A$250-million payment on Wednesday. Executive chairperson Wanghong Yang said the company would now review its operational needs at the Coolgardie gold project before deciding on its capital management strategy.
Comments
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation