UK’s Greatland Gold secures $65 mln JV deal Australia's Newcrest Mining

UK gold exploration and development company Greatland Gold has reached a $65million joint venture (JV) deal with Australian peer Newcrest Mining.

The joint venture move is expected to pay all expenses to feasibility and lead to the development of a major producing mine.

With this transaction, Newcrest Mining is keeping one step ahead of its competitors in Paterson.

Previousily, Newcrest Mining bought a 21.7 percent stake in Lundin Gold by investing $250 million in a private placement, which raised a total of $400 million.