OceanaGold acquires Ausgold for $553M, expanding into Australia
Canadian miner OceanaGold agreed to buy Australian firm Ausgold for A$776 million ($553M), gaining control of the Katanning gold project in Western Australia. The deal, offering a 27.7% premium, is unanimously recommended by Ausgold’s board and supported by major shareholder Dundee. Katanning is expected to produce over 100,000 oz. annually from 2029, filling a production gap for OceanaGold. The transaction, driven by record gold prices near $4,399/oz, requires shareholder and regulatory approvals and is expected to close by December 2026.