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Gold Fields (JSE: GFI) is selling a A$1.1 billion ($720 million) stake in Northern Star Resources (ASX: NST), with an auction process managed by JPMorgan initiated following Thursday’s market close. This divestment is set at a floor price of A$21.85 per share, reflecting a 2.7% discount to Northern Star’s last-traded price of A$22.66.
The stake was acquired through Gold Fields’ recent A$2.4 billion takeover of Gold Road Resources (ASX: GOR), which received shareholder approval this week. Gold Fields is focusing more on its Australian operations, which produced 992,000 ounces of gold and $552 million in free cash flow in 2024, representing 48% of its total output.
Northern Star, valued at A$32.4 billion, has solidified its position as a leading mining company, expanding its portfolio with a A$5 billion ($3.3 billion) acquisition of De Grey Mining earlier this year.
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