Australia’s Evolution Mining to buy Canadian gold mine from Newmont Goldcorp for $375 Million

By Reuters

Nov 26 (Reuters) – Australia’s Evolution mining on Tuesday agreed to buy Canadian gold mining complex Red Lake from Newmont Goldcorp Corp for $375 million in cash.

Evolution also agreed to pay an additional $100 million upon new resource discovery at the mine.

The acquisition will be funded through an A$600 million ($407.16 million) loan facility, the company said in a statement.

$1 = 1.4736 Australian dollars Reporting by Shreya Mariam Job in Bengaluru Editing by Chris Reese