April 20 (Reuters) - Agnico Eagle Mines said on Monday it will acquire Rupert Resources and Aurion Resources, and buy a majority stake in a joint venture from B2Gold, as it moves to consolidate a key gold district in northern Finland.
Agnico Eagle shares fell 2.7% in morning trade, while Rupert Resources jumped 63.8% and Aurion Resources surged 43.8%.
The three transactions will give the Canadian miner full control of a large land package in the Central Lapland Greenstone Belt, building a multi-asset
platform anchored by its existing Kittila mine and the Ikkari gold project.
Major gold miners are increasingly targeting long-life, high-quality assets in politically stable regions as discoveries become harder and reserves decline.
Agnico's deals include the acquisition of Rupert, valued at C$2.9 billion ($2.12 billion). Agnico will also acquire Aurion for about C$481 million in cash, offering C$2.60 per share, a premium of about 46% to the stock's last close.
Separately, the company will buy B2Gold's 70% stake in the Fingold joint venture for $325 million, which, combined with Aurion's 30% holding, will give Agnico full ownership of the asset and eliminate overlapping ownership structures across the district.
The deals consolidate about 2,492 square kilometres (962.17 square miles) and integrate the Ikkari gold project with Agnico's existing Kittila mine, the largest primary gold mine in Europe.
Agnico plans to invest about C$20 million in drilling at Ikkari over the next 18 months and between C$60 million and C$100 million in a three-year regional exploration program aimed at expanding resources and identifying new deposits.
The company said the combined Finland assets could form a long-life hub producing roughly 500,000 ounces of gold annually.
Agnico also said the deals could generate up to C$500 million in operating and development synergies, helped by the removal of property boundaries and the sharing of infrastructure, procurement and regional expertise.
The Rupert and Aurion deals are expected to close in early third quarter 2026, while the B2Gold transaction is expected to be completed later this month.
($1 = 1.3690 Canadian dollars)
(Reporting by Arunima Kumar and Katha Kalia in Bengaluru; Editing by Shailesh Kuber)
