Westgold Gets Approvals for Karora Acquisition


Karora operates the Beta Hunt (above) and Higginsville underground gold mining operations in
Western Australia. (Photo: Karora Resources)
Karora Resources Inc. obtained a final order from the Ontario Superior Court of Justice in Canada approving Westgold Resources’ plan to acquire all of Karora’s shares. Westgold Resources previously reported that Karora shareholders have approved the merger between Westgold and Karora at Karora’s annual shareholder meeting, which was held on July 19, 2024. The transaction is now expected to become effective on or about August 1, 2024.

With the integration of the Karora assets, Westgold will have an expanded footprint in the goldfields of Western Australia. “With the integration of the Karora team, we create an agile Australian gold mining powerhouse that is focused on free cash generation and shareholder returns,” said Wayne Bramwell, managing director, Westgold.

Karora has been focused on increasing gold production at its integrated Beta Hunt gold mine and Higginsville gold operations in Western Australia. The Higginsville treatment facility is a low-cost 1.6 million metric ton per year (mt/y) processing plant, which is fed at capacity from Karora’s underground Beta Hunt mine and Higginsville mines. In July 2022, Karora acquired the 1 million mt/y Lakewood mill in Western Australia.

Westgold owns and operates four underground mines and three processing plants with a combined capacity of 4 million mt/y in the Murchison and Bryah regions of Western Australia. Operating on a ‘hub and spoke’ model, Westgold’s Murchison mines feed ore to its Meekatharra and Tuckabianna processing hubs, and its Bryah Basin mines send ore to the Fortnum hub.

As featured in Womp 2024 Vol 08 - www.womp-int.com