Cliffs to Buy Consolidated Thompson for $5 Billion

The company can now move forward the construction and operation of the underground mine, which is expected to deliver 164,000 oz. of gold production annually.

Most mining firms rely on their own diesel supplies to extract iron ore, diamonds, rutile and bauxite in the resource-rich country.

The transaction is expected to close in early 2025.

The Canadian miner has reportedly engaged law firm Thomson Geer to finalize a prospectus for listing in the ASX before Christmas.