The combined company, to be known as Kirkland Lake Gold, will have a market capitalization of about Cdn$2.4 billion and produce more than 500,000 ounces of the yellow metal a year.
The country’s state planner said it would also set up a no-coal zone in cities around Beijing in 2017 to try reducing the capital's hazardous smog levels.
Texas-based Ocean Minerals says the area is also rich in scandium, a key ingredient for making an extremely light, strong, corrosion resistant, heat tolerant and weldable alloy.
The equipment maker is currently spending most of its R&D budget in its digital area, which aims to help miners reduce the amount of machinery needed at operations.
They will appeal verdict that paved the way for about half a million current and former miners to proceed with a multi-million-dollar suit, which seeks compensation for those who contracted lung diseases.