Jaguar Pounces on Kinross Brazil Sub

Canada-based Jaguar Mining has entered an agreement to acquire Kinross Gold’s Brazil unit MCT Mineracao for $39m in Jaguar common shares. The unit holds all the mineral licenses for the Gurupi exploration project in Maranhao. A feasibility study Kinross conducted indicated gold resources of 1.6m tons of gold. Closing is expected in one month, says vice president of corporate development Bob Zwerneman, who adds that the deal was privately negotiated.