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Australian gold miners Northern Star, Saracen agree to $16b merger – Sydney Morning Herald

The merged company would rank in the ten biggest producers worldwide and expand output at a time of soaring gold prices.

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The deal comes as gold has proven one of this year’s best-performing commodities, passing an all-time high of $US2075 an ounce, as the coronavirus pandemic causes investors to seek out out safe havens to protect their wealth from the effects of economic uncertainty and unprecedented global stimulus.
For Australia’s gold miners, the yellow metal’s 30 per cent price rally has provided a boost to profits. Since January, shares in Northern Star have surged by 23 per cent and Saracen shares by 57 pe…

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