Australian gold miner Genesis Minerals to buy Magnetic Resources for $452 million

Reuters

02/16

Feb 16 (Reuters) - Australian gold miner Genesis Minerals GMD.AX said on Monday it will buy a mid-tier gold developer, Magnetic Resources MAU.AX, for an implied equity value of about A$639 million ($451.65 million).

($1 = 1.4148 Australian dollars)

(Reporting by Anjali Singh in Bengaluru; Editing by Chris Reese)

((anjali.singh2@thomsonreuters.com;))

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