OceanaGold to Buy Ausgold for $549M, Adding Katanning Gold Project
OceanaGold agreed to acquire Ausgold for $549 million, adding the Katanning Gold Project in Western Australia. Ausgold shareholders will mainly receive OceanaGold shares, with a cash option capped at $137 million; closing is expected in December 2026.
Katanning is projected to produce more than 100,000 ounces of gold annually for an initial 10-year mine life, with first production targeted for 2029. OceanaGold plans further development work through 2027, a technical report and final investment decision in 2028, and says permitting and early works are progressing.
The deal expands OceanaGold’s growth pipeline and exploration footprint, including more than 3,000 square kilometers of underexplored land. The company said it has $655 million in cash and no debt, and expects the acquisition to proceed without delaying its Waihi North development or Macraes mine-life extension efforts