Pretium Resources to be Acquired by Newcrest Mining
Nov 9, 2021 By MarketDepth
Vancouver-based Pretium Resources Inc. (TSX: PVG) (NYSE: PVG) has reached an agreement to be acquired by Newcrest Mining Limited (ASX: NCM) (TSX: NCM).
Located in the Golden Triangle
Newcrest’s interest in Pretium is centred around one of the highest-grade operating gold mines in the world: the Brucejack operation in the highly prospective Golden Triangle region of British Columbia, Canada.
Growing Portfolio for Newcrest
The acquisition will add the Brucejack operation to Newcrest’s portfolio of Tier 1 assets “and will deliver immediate production, free cash flow and earnings diversification to Newcrest,” according to Newcrest’s Managing Director and Chief Executive Officer, Sandeep Biswas.
“With this acquisition, Brucejack will join Newcrest’s portfolio of tier one assets, mitigating the inherent risks associated with ownership of a single-asset mining company. Moreover, Newcrest has the financial means and the intention of maximizing the long-term potential of the Brucejack mine and the district scale opportunities in the surrounding Brucejack property. The acquisition of Pretivm by Newcrest is an outstanding opportunity for Pretivm and its shareholders, employees, First Nations partners and the local communities in northwest British Columbia.”Pretivm’s President and Chief Executive Officer, Jacques Perron