Newmont's Yanacocha deal headlines metals, mining M&A for week ended Feb. 11

Newmont Corp.'s deal for an additional stake in a Peruvian gold mine headlined metals and mining transactions during the week ended Feb. 11, according to a screener on S&P Capital IQ Pro.

The Denver-based gold miner agreed to buy Compañía de Minas Buenaventura SAA's 43.65% interest in Minera Yanacocha Srl, owner of the Yanacocha gold mine in Peru, for $300 million plus contingent payments of up to $100 million. The transaction will increase Newmont's Minera Yanacocha stake to 95%, and the miner may have an opportunity to fully consolidate ownership, as Sumitomo Corp. is assessing whether to exercise its right to return the remaining 5% stake under a 2018 agreement.

Wheaton Precious Metals Corp. will pay $125 million for a gold stream on Sabina Gold & Silver Corp.'s Goose project at the Back River gold property in Canada's Nunavut territory. The stream is initially for 4.15% of payable production, dropping to 2.15% after delivering 130,000 ounces of gold and further falling to 1.5% after delivering 200,000 ounces of gold.

Au Xingao Investment Pty. Ltd., the Australia-based subsidiary of Xinhu Zhongbao Co.Ltd., intends to make an off-market takeover offer for an 85.15% stake in Bullseye Mining Ltd. in a $93.8 million deal. Au Xingao has a voting power of 14.85% in Bullseye and does not support Emerald Resources NL's takeover bid.

Kermode Resources Ltd. signed a letter of intent to acquire the Seahorse Saddle project near BHP Group Ltd.'s Seahorse nickel project in Western Australia from Southern Prospecting Pty. Ltd. for $35.9 million.

Rounding out the top five transactions of the week, Laneway Resources Ltd. agreed to acquire Masterson Minerals Pty. Ltd. for $11.7 million. Masterson owns the Georgetown gold processing plant located 100 kilometers north of Laneway's Agate Creek gold mine in Queensland, Australia.