Centerra Gold closes $206.5m acquisition of Goldfield District Project

Centerra Gold, a Canadian gold mining company, has closed the previously announced $206.5 million acquisition of Gemfield Resources, the owner of the Goldfield District Project in Nevada.

Gemfield Resources was acquired from Waterton Nevada Splitter. The deal was announced in late February 2022.

The Goldfield District Project is a conventional open-pit, heap leach project. The late-stage development is said to be located in a Tier 1 mining jurisdiction.

It has three known deposits, namely Gemfield, McMahon Ridge, and Goldfield Main.

Centerra Gold closes $206.5m acquisition of Goldfield District Project in Nevada. Photo courtesy of Khusen Rustamov from Pixabay.

At the time of announcing the deal, Scott Perry — President and CEO of Centerra Gold said: “We are very excited to be adding this high-quality development project and its substantial Tier 1 jurisdiction land package to our portfolio. Similar to our Öksüt Mine, Goldfield will be a heap leach mine, with low initial capital outlay and low projected production costs.

“Our experienced exploration and operational teams have intimate knowledge of an asset of this kind, and I feel confident that they will be able to successfully develop and execute on this project in the coming years, delivering another source of meaningful cash flow to Centerra.”