South Africans eye takeover of Australia’s biggest gold miner
Northern Star Resources has rejected a $38 billion takeover bid from South African mining giant Gold Fields. The Australian company stated the offer was opportunistic and undervalued its assets while exposing shareholders to unnecessary risks.
Why it matters
The rejection of this massive bid highlights ongoing consolidation trends in the global gold mining sector and concerns over jurisdictional risk.
— 3:37pm , first published September 28, 2026 — 5:27am
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Share A A A Australia’s largest gold miner has shot down a blockbuster $38 billion takeover bid from a South African-based rival, calling the offer “highly opportunistic” and telling shareholders that it significantly undervalued the company.
The board of Perth-based Northern Star Resources on Monday confirmed reports of a bid from South Africa’s mining giant Gold Fields, saying it had “received, considered and rejected” the proposal made on September 14.
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