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Karora Resources Inc., a Canadian gold mining company, announced its acquisition of the Lakewood Mill gold processing facility located near Kalgoorlie, Western Australia, for a total consideration of approximately $72 million (AU$80 million). The acquisition is a strategic move to enhance Karora’s milling capacity and reduce reliance on third-party toll milling, thereby de-risking its growth plans in the region.
Parties
Company
Karora Resources
Company
Undisclosed Seller
Deal Type
Merger & AcquisitionIndustry
MiningTransaction
$ 72,000,000Deal Status
ClosedClosing Date
27 July 2022