West African, TSX-listed gold miner Endeavour Mining said it had the discussions with LSE-listed gold producer Acacia Mining as part of its regular discussions with peer group mining companies and that it may or may not result in a transaction.
Endeavour Mining also reiterated that while it routinely evaluates business development opportunities, its “strategic focus is the organic prospects in its existing asset portfolio”.
[quote]In response, Acacia Mining said it was in preliminary discussions regarding a possible “combination” with Endeavour. The company also added that it continually assesses opportunities to grow and develop its business in line with its strategy, including the assessment of potential strategic combinations.
Acacia Mining is Tanzania’s largest gold miner and one of the largest producers of gold in Africa. The company has three producing mines located in north-west Tanzania: Bulyanhulu, Buzwagi and North Mara and a portfolio of exploration projects in Tanzania, Kenya, Burkina Faso and Mali. It has a secondary listing on the Dar es Salaam Stock Exchange.
Endeavour Mining has a significant portfolio of producing assets in West Africa.