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NST Northern Star Resources Ltd

14.57
0.00 (0.00%)
06 May 2024 - Closed
Delayed by 20 minutes
Share Name Share Symbol Market Type
Northern Star Resources Ltd ASX:NST Australian Stock Exchange Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 14.57 15.25 13.82 0.00 23:38:53

Northern Star to Buy Newmont Australian Power Unit For $95 Million

22/11/2021 10:10pm

Dow Jones News


Northern Star Resources (ASX:NST)
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   By Rhiannon Hoyle 
 

Northern Star Resources Ltd. said it will buy a power business from Newmont Corp. for $95 million, giving the Australian miner greater control over its power supply in a remote part of the country's west.

Northern Star on Tuesday said it has entered a binding sale agreement to acquire all of Newmont's shares in GMK Investments Pty. Ltd., which owns a 50% interest in the Parkeston Power Station at Kalgoorlie in Western Australia state.

Northern Star already paid $25 million for an option to buy the Newmont power unit in its purchase of the Colorado-based miner's 50% stake in Kalgoorlie Consolidated Gold Mines Pty. Ltd. The company will pay the $70 million balance when the deal completes, which is expected to happen next month, Northern Star said.

The Parkeston Power Station provides electricity to Kalgoorlie Consolidated Gold Mines and the Kalgoorlie area.

 

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

 

(END) Dow Jones Newswires

November 22, 2021 16:55 ET (21:55 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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