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AAP
AAP
Derek Rose

South African gold giant set to pursue Australian rival

Northern Star is the owner of the famed gold Super Pit in Kalgoorlie, Western Australia. (Mellen Burns/AAP PHOTOS)

One of the world's top mining firms is disappointed the board of Australia's leading goldminer has knocked back its near $40 billion takeover approach but isn't giving up its pursuit.

Northern Star revealed on Monday that on Friday it had rejected an unsolicited $38.7 billion offer from Johannesburg-based Gold Fields, describing it as an "opportunistic" attempt to get its assets on the cheap.

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