Australian banks, mining company to buy mining company

The Australian National Ports and Mining Association has agreed to buy the Australian Goldfields Group, a mining company with assets in the Northern Territory, the Queensland Government announced on Tuesday.

The deal, which could be completed by the end of the year, will see the ANPMA buy Goldfields for $1.9 billion, ANM chairman David Smith said.

“The ANPAA is pleased to acquire Goldfields and will have an expanded role in its mining portfolio,” Mr Smith said in a statement.

“We believe this acquisition is a strategic asset for the ANPA, and one that will enable us to drive the value of our own assets through higher returns.”

Goldfields owns about $600 million of the ANAPA’s gold holdings.

Its board will now oversee the group’s management.

Goldfields chairman Richard Barwell said the acquisition would create a new national goldfields asset manager and support its long-term growth and sustainability.

“This is a big win for our Goldfields family,” Mr Barwell told reporters in Sydney.

“As we look to the future, the opportunity to help grow our Goldfield portfolio is very appealing.”

Mr Smith said the ANMAA would retain a significant portion of the group, and Mr Barfield would become the group president.

“Richard will be able to provide a more effective and efficient management of the Goldfields group,” he said.

The ANPA said it expected the acquisition to provide additional financial and operational support to the ANPP.

“Goldfields is well placed to help provide long-lasting financial stability for the Australian Government and other stakeholders in the NT,” Mr Campbell said in the statement.

The NT Government is reviewing the ANPLA’s funding, with ANPA chairman Peter McClellan saying he was concerned about the state of NT governance.

Topics:mining-industry,goldfields-2168,australia,nt,nsw,nauvoo-3350,npr,business-economics-and-finance,government-and-“other-statistics,”business-administration,industry-and/or-federal-government,canberra-2600,queensland,tas,arab-republic,aesthetics-and-(anthropology)ethics-research,business,national-parks,united-statesContact Ian Green