May 12, 2020 - Economy

SSR Mining to buy rival gold miner Alacer Gold

Illustration of a gold bull in a spotlight.

Illustration: Lazaro Gamio/Axios

SSR Mining agreed to buy rival gold miner Alacer Gold for C$2.41 billion in stock.

Why it matters: This comes against the backdrop of rising gold prices, as investors seek safer assets amidst global economic uncertainty. It's also the week's second such merger, following Shandong Gold Mining's C$230 million deal for TMAC Resources.

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