Acquisition of New Gold and Rainy River mine completed
Coeur Mining is now in charge of New Gold’s Rainy River Mine.
The U.S.-based mining company reports its acquisition of New Gold, announced last November, is now complete, with the issuance of shares to New Gold shareholders.
As part of the $7-billion deal, Coeur will also take over New Gold’s New Afton mine in British Columbia.
Coeur says it will share more information next week about the expected benefits of the transaction.
It also intends to outline plans it has for the two mines.
Coeur officials have previously stated an interest in expanding exploration activities at the Rainy River mine to extend its life.