Endeavour Mining swoops on Semafo to create top Burkina Faso gold miner

JOHANNESBURG (Reuters) – Endeavour Mining EDV.TO said on Monday it will acquire Toronto-listed Semafo SMF.TO in a C$1 billion ($690.7 million) deal to create the biggest gold producer in Burkina Faso, increasing its focus on the country despite rising insecurity. The combined group will produce 1 million ounces of gold a year, Endeavour Chief Executive Sebastien de Montessus said, making it larger than Newmont Goldcorp, Barrick, and Goldfields in West Africa.