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Eldorado Gold to Buy Foran Mining in $2.8 Billion Deal to Deepen Copper Exposure

On Feb. 2, Eldorado Gold Corp. announced it agreed to acquire Foran Mining Corporation for about $3.8 billion through a court-approved plan of arrangement.
Eldorado said the deal pairs two projects, Skouries and McIlvenna Bay, to strengthen its asset mix and copper exposure in Canada and Greece.
Under the terms, Foran shareholders will receive 0.1128 of an Eldorado share plus a penny in cash per share, with Eldorado shareholders owning about 76% and Foran shareholders 24%.
The deal must win a Foran shareholder vote and obtain regulatory approvals; Burns would retain his title, and the companies project $2.1 billion in EBITDA and $1.5 billion in free cash flow in 2027.
The merger projects are on track for commercial production by mid-2026 with combined output expected at around 900,000 gold-equivalent ounces in 2027, but analyst Steven Green, TD Securities Inc., cautioned about near-term execution risk as the combined company ramps two development projects concurrently.

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Eldorado Gold strikes deal to acquire Foran to create new copper-gold producer

Eldorado Gold is increasing its exposure to copper by buying Foran Mining for approximately $3.8 billion.

2 days ago·Canada

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Eldorado Gold to buy Foran Mining in $2.8 billion deal to deepen copper exposure

Eldorado Gold will acquire Canada's Foran Mining in a deal valuing the copper-focused developer at about C$3.8 billion ($2.79 billion), adding a second near-term growth project and increasing its exposure to copper.

2 days ago·United Kingdom

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