Daily Archives: 11/16/2020


Endeavour to buy Teranga Gold, creating top 10 gold miner

Canada’s Endeavour Mining (TSX: EDV), already West Africa’s top gold producer, has agreed to buy Teranga Gold (TSX: TGZ) in an all-share deal worth C$2.44 billion ($1.86 billion), which would create a top 10 gold producer.

The Toronto-based miner is offering 0.470 of its own shares for each Teranga share, a 5.1% premium to Teranga’s closing price on Friday.

The combined company will produce about 1.5 million ounces of gold a year across West Africa, making it one of the 10 largest producers.