McEwen Mining Acquires Primero Mining’s Black Fox Complex

McEwen Mining shares were over 2% higher in pre-market trade after the company said it has agreed to purchase Primero Mining Corp.’s (PPP) Black Fox Complex and associated assets and liabilities for $35 million. The Black Fox Complex is located in the gold mining camp of Timmins, Canada. “Buying the Black Fox Complex provides fantastic synergies with our recently acquired Timmins deposits,” said Chairman Rob McEwen.”This acquisition will add immediately to our gold production.” Separately, Primero Mining said it plans to use net proceeds from the sale to reduce debt. The deal is expected to close in Q3.

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