Type | Public |
---|---|
TSX: AUQ NYSE: AUQ | |
Industry | Mining Exploration |
Founded | 1986 |
Defunct | 2015 |
Fate | Merged with Alamos Gold |
Headquarters | , |
Key people | Scott Perry (President & CEO) |
Products | Gold Silver |
Website | www |
AuRico Gold was an intermediate gold mining and exploration company that, until August 2011, operated only in Mexico. It reached intermediate gold producer status in August 2011 when Northgate Minerals agreed to be taken over for C$1.46 billion. [1] Gammon Gold was an exploration company until 2004 when it started producing for the first time. Assets also include silver and copper.
Aurico Gold merged with Alamos Gold in 2015. [2]
The company began as Golden Rock Explorations, Inc. on February 23, 1986 (date of incorporation). In 1998, it was renamed Gammon Lake Resources, Inc. Over the next 13 years, it changed names twice more, first to Gammon Gold Inc on June 18, 2007, and to AuRico Gold in May 2011. [3] [4]
On August 9, 2006, AuRico finalized the $451 million takeover of Mexgold Resources Inc., which owned the Guadalupe y Calvo gold and silver project in Mexico. [5]
In April 2011, the company acquired Capital Gold for $408 million after 67% of Capital Gold's shareholders voted in favor of the deal. Assets included El Chanate and the Orion gold project in Mexico. [6]
On May 16, 2011, it changed its name to AuRico Gold, a combination of Au ('gold') and Rico (meaning "rich" in Spanish). [4]
On August 29, 2011, it acquired the Vancouver-based Northgate Minerals in a C$1.46 billion deal (US$1.49 billion). The new company (62% owned by AuRico shareholders with the other 38% residing with Northgate's shareholders) has 83% more gold resources than AuRico had beforehand. [7] Including the takeover of Capital Gold, AuRico increased its gold reserves by about 70% in less than five months.
In 2015, AuRico Gold merged with Alamos Gold in a C$1.5 billion deal. [2] Shareholders of AuRico Gold owned about 50% of the new company, which was still called Alamos Gold. As part of the deal, AuRico's Kemess project was spun off into a new company, AuRico Metals, which was acquired by Centerra Gold in 2017 for $310 million. [8]
There were two operations in Mexico and one operation in Canada in addition to several advanced development properties in Mexico and British Columbia. [9]
In 2002, the company announced a strategic alliance with Bolnisi Gold NL, to take its Ocampo Project in Mexico into production. [13]
Agnico Eagle Mines Limited is a Canadian-based gold producer with operations in Canada, Finland and Mexico and exploration and development activities extending to the United States. Agnico Eagle has full exposure to higher gold prices consistent with its policy of no-forward gold sales. As of 2017, it has paid a cash dividend every year since 1983.
Eldorado Gold Corporation is a Canadian company that owns and operates gold mines in Turkey, Greece and Canada. Since its merger with European Goldfields in 2011 the company has been pursuing the development of the Skouries mine, Olympias mine and Stratoni mine in Greece. The company previously developed and operated gold mines in China, Brazil and Mexico. Headquartered in Vancouver and listed on the Toronto and New York Stock Exchanges, Eldorado Gold has developed and operated assets from several merged companies HRC Developments Corporation, Afcan Mining Corporation, Sino Gold Mining, Brazauro Resources, Integra Gold, as well as European Goldfields.
Newcrest Mining Limited is an Australian-based corporation which engages in the exploration, development, mining and sale of gold and gold-copper concentrate. It is Australia's leading gold mining company and its operations have expanded beyond Australia, for example Indonesia, thus becoming a prominent international mining corporation. Newmont Mining Corporation initially started the company as a subsidiary in 1966. The subsidiary became Newmont Holdings Pty Ltd. in 1980 and in 1990 acquired 100% of Australmin Holdings Ltd. taking the current name.
Yamana Gold Inc. is a Canadian company that owns and operates gold, silver and copper mines in Canada, Chile, Brazil and Argentina. Headquartered in Toronto, the company was founded in 1994 and became listed on the Toronto Stock Exchange in 1995, the New York Stock Exchange in 2007, and the London Stock Exchange in 2020. The company became a gold producer after its 2003 re-restructuring in which Peter Marrone took over as Chief Executive Officer and it merged with Brazilian company Santa Elina Mines Corporation. The combined company was able to use Yamana's access to capital with Santa Elina development properties to bring the Chapada mine into production. From there the company combined with other TSX-listed companies RNC Gold, Desert Sun Mining, Viceroy Exploration, Northern Orion Resources, Meridian Gold, Osisko Mining and Extorre Gold Mines which each contributed either a producing mine or a development project that was able to come into commercial production.
NOVAGOLD is a Canadian company that is pursuing the development of the Donlin Gold mine in Alaska. Headquartered in Vancouver, the company is listed on the NYSE American and the Toronto Stock Exchange. The company was founded in Dartmouth, Nova Scotia, in 1984, to pursue exploration and development of mining properties. While the company bought and sold numerous exploration rights across North America, they have principally focused on four properties. They developed and operated the Murray Brook Mine in Nova Scotia from 1989 to 1992 and developed the Rock Creek Mine in Alaska but defaulted on financial obligations forcing it to close shortly after opening in 2008. They conducted exploration and development work on the Galore Creek mine in British Columbia between 2003 and 2018 but sold its interests. The development of the Donlin Gold mine has been pursued since the formation of a joint venture with Barrick Gold in 2012.
Kinross Gold Corporation is a Canadian-based gold and silver mining company founded in 1993 and headquartered in Toronto, Ontario, Canada. Kinross currently operates seven active gold mines, and was ranked fifth of the "10 Top Gold-mining Companies" of 2019 by InvestingNews. The company's mines are located in Brazil, Ghana, Mauritania, Russia and the United States. It trades under the KGC ticker in the New York Stock Exchange, and under K in the Toronto Stock Exchange.
Mining in Papua New Guinea is an important part of the Papua New Guinea economy.
Centerra Gold Inc. is a Canadian mining company that owns and operates the Kumtor Gold Mine in the Kyrgyz Republic, the Mount Milligan copper-gold mine in British Columbia, Canada, and the Öksüt gold mine in Turkey. Through its Thompson Creek Metals subsidiary company, it also own the Endako and Thompson Creek molybdenum mines in British Columbia and Idaho, respectively, though they have been inactive since Centerra's acquisition. The company formerly owned and operated the Boroo Gold Mine in Mongolia. Headquartered in Toronto, Centerra Gold is a public company with shares traded on the Toronto Stock Exchange and New York Stock Exchange.
The Kemess Mine was an open-pit copper and gold mine, located just northeast of the foot of Thutade Lake, at the head of the Finlay River, in the Omineca Mountains of the Northern Interior of British Columbia, Canada. It was operated by Royal Oak Mines from 1998 to 1999, when it was bought by Northgate Minerals. Northgate operated the mine until its closure in 2011; that year Northgate was taken over by AuRico Gold. In 2014 AuRico Gold partitioned off its portion of Kemess Mine ownership creating a new company called AuRico Metals.
Coeur Mining, Inc. is a precious metals mining company listed on the New York Stock exchange. It operates five mines located in North America. Coeur employs 2,200 people and in 2012 it was the world's 9th largest silver producer. In 2013 the company changed its name to Coeur Mining, Inc. from Coeur d'Alene Mines and moved its head office to Chicago, Illinois from Coeur d'Alene, Idaho.
Iamgold Corporation is a Canadian company that owns and operates gold mines in Burkina Faso, Suriname and Canada. Headquartered in Toronto, the company was incorporated in 1990, and went public on the Toronto Stock Exchange in 1996, with additional shares being listed on the New York Stock Exchange beginning in 2005. The company formerly owned or had stakes in the Sadiola and Yatela gold mines in Mali, the Mupane gold mine in Botswana, the Niobec niobium mine in Quebec, as well as a royalty in the Diavik Diamond Mine. Iamgold's early exploration work in Western Mali, particularly around Sadiola, was based on the fieldwork of Canadian geologist James C. Snell. M.Tech, P.Eng. Snell provided exploration coordinates to company founder Mark Nathanson. After years of seeking recognition and payment for his work, Snell committed suicide while living in poverty in Vancouver B.C.
Red Back Mining Inc. is an unhedged Vancouver based mineral resource company. Its focus is West Africa where it operates the Chirano Gold Project in Ghana and the Tasiast Gold Mine in Mauritania. It has one division, Red Back Mining NL, based in Perth, Australia. While independent it was considered one of Canada's Largest gold companies with a market capitalization of $ 5.8 billion or 3/4 as much as the 10th largest gold mining company in the world however at the time its key mines hadn't yet reached full potential or critical mass.
The Abitibi gold belt is a region of Canada that extends from Wawa, Ontario to Val-d'Or, Quebec. Located within the mineral-rich Abitibi greenstone belt, the gold belt is an established gold mining district having produced over 100 mines, and 170 million ounces of gold since 1901. Timmins, a town founded in 1912 following the Porcupine Gold Rush and subsequent creation of the Hollinger, MacIntyre and Big Dome Mines, is one area in the region that experienced a gold rush beginning in 1909. The Kerr Addison Mine in Virginiatown was at one time Canada's largest gold producing mine. Many of the towns readily acknowledge gold mining as part of their history, some being named after gold. One of Canada's 'large roadside attractions' is a 12-foot replica of a 1908 gold sovereign built to commemorate Canada's first gold coin which was made using gold from the Kerr Addison mine.
New Gold Inc. is a Canadian mining company that owns and operates the New Afton gold-silver-copper mine in British Columbia and the Rainy River gold-silver mine in Ontario, Canada. Through a Mexican subsidiary company, they also own the Cerro San Pedro gold-silver mine in San Luis Potosí, Mexico, which ceased operation in 2017. While New Gold was founded in 1980 for the purposes of mineral exploration, the company became a mine operator with its merger of Peak Gold and Metallica Resources in 2008. A fourth company, Western Goldfields, joined in 2009. Together they operated the Peak mine in Australia and Mesquite Mine in California but sold both in 2018. Headquartered in Toronto, shares of the company are traded on the Toronto Stock Exchange and NYSE American.
European Goldfields Ltd. was an EU-focused, Whitehorse based Canadian precious metals company engaged in gold, silver and copper exploration, development and production. The mining rights it owned to land in Greece, Romania and Turkey gave it access to over 10 million ounces of 2P gold reserves in addition to over 80 million ounces of silver.
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