Evolution Mining acquires Red Lake gold mine from Newmont

On March 31, 2020, Evolution Mining completed its acquisition of the Red Lake gold mine in Ontario from Newmont. This acquisition provides Evolution with attractive geographic diversification for existing Australian operations by establishing a North American production hub.

The purchase price for this transaction was US$375 million in cash, plus an additional amount up to US$100 million payable upon new resource discovery.

Evolution Mining is a mid-tier gold producer based in Sydney, Australia.

McCarthy Tétrault advised Evolution with a team led by Shea Small that included Robin Mahood, Dan Bornstein, Eva Bellissimo, Ian Mak, Adam Wanke, Paulina Bogdanova, Leah Whitworth and Konstantin Sobolevski (Corporate and M&A); Debbie Salzberger and Kate McNeece (Competition); Raj Juneja and Dean Xiao (Tax); Ben Ratelband, Ben Aberant, Ryan Plener and Marco Fimiani (Labour & Employment); Joanna Rosengarten (Environmental); Tzen-Yi Goh, Sarit Pandya and Alessandra Valitutti (Real Property) and Kelleher Lynch (Pensions & Benefits).