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Gold Fields to Boost Portfolio With Osisko Mining Deal

Gold Fields Limited (NYSE: GFI) announced that it signed a deal to acquire Osisko Mining. This move is in sync with GFI's goal to strengthen its portfolio through investments in high-quality and long-life assets. The transaction is expected to close in the fourth quarter of 2024, subject to approvals by Osisko shareholders and others. Once the shareholders of Osisko Mining approve the deal, Gold Fields will gain complete ownership of the Windfall Project in Québec, Canada. Gold Fields and Osisko Mining  have owned and managed the project jointly since May 2023. GFI's Windfall joint venture arrangement with Osisko Mining included a C$300-million ($219 million) deferred cash payment and a C$75-million ($55 million) exploration obligation, which will now be eliminated. The Windfall Project, situated between Val-d'Or and Chibougamau in Quebec's Abitibi region, is estimated to produce 300,000 ounces of gold per year. ...