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AAP
AAP
Derek Rose

Northern Star to buy WA gold developer in $5b deal

Northern Star Gold Mining Western Australia
De Grey estimates the Hemi project will generate annual gold production of 530,000 ounces a year. (Mick Tsikas/AAP PHOTOS)

Gold miner Northern Star has agreed to acquire De Grey Mining in an all-scrip transaction that values De Grey and its large-scale Pilbara development at $5 billion.

Northern Star is paying a 37.1 per cent premium, based on De Grey's closing share price on Friday. De Grey shareholders will own 19.9 per cent of the combined company.

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