M&A Deal Summary

Kinross Acquires Great Bear Resources

On December 8, 2021, Kinross acquired metals/mining company Great Bear Resources for 1.8B CAD

Acquisition Highlights
  • This is Kinross’ 5th transaction in the Metals/Mining sector.
  • This is Kinross’ largest (disclosed) transaction.
  • This is Kinross’ 2nd transaction in Canada.
  • This is Kinross’ 2nd transaction in British Columbia.

M&A Deal Summary
Date 2021-12-08
Target Great Bear Resources
Sector Metals/Mining
Buyer(s) Kinross
Deal Type Add-on Acquisition
Deal Value 1.8B CAD
Advisor(s) CIBC Capital Markets
Cormark Securities, Inc. (Financial)
Blake, Cassels & Graydon (Legal)

Target

Great Bear Resources

Vancouver, British Columbia, Canada
Great Bear Resources is a Vancouver-based gold exploration company focused on advancing its 100% owned Dixie project in Northwestern Ontario, Canada. Great Bear Resources is based in Vancouver, British Columbia.

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Buyer(S) 1

Buyer

Kinross

Toronto, Ontario, Canada
Category Company
Founded 1993
Sector Metals/Mining
Employees8,447
Revenue 4.2B USD (2023)
DESCRIPTION

Kinross is a Canadian gold mining company with mines and projects in Canada, the United States, Brazil, Chile, Ecuador and Russia. The Company was formed in 1972 and employs approximately 5,500 people worldwide. Kinross Gold was incorporated in 1993 and is based in Toronto, Canada.

DEAL STATS #
Overall 5 of 5
Sector (Metals/Mining) 5 of 5
Type (Add-on Acquisition) 2 of 2
State (British Columbia) 2 of 2
Country (Canada) 2 of 2
Year (2021) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-30 Peak Gold Project

Alaska, United States

The Peak Gold project is a relatively high-grade deposit with a large estimated resource base that is expected to commence production in 2024 as a low-cost, open-pit mine.

Buy $94M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-05 Kinross Gold - Russian assets

Russia

Kinross Gold's Russian assets operate several mines in the Chukotka and Khabarovsk regions where the Kupol mine and Udinsk project are located, respectively. Kinross Gold's Russian assets are based in Russia.

Sell $680M
Mergr

Product

Company

Legal