Northern Star Resources
| ASX: NST | |
| Industry | Mining |
| Founded | 2003 |
| Headquarters | |
| Products | Gold |
Production output | 1,633,615 ounces (2024–25) |
| Revenue | $6.4 billion (2025) |
| $3.5 billion (2025) | |
| Website | www.nsrltd.com |
Northern Star Resources is an Australian gold mining company with operations in Western Australia and Alaska.
History
Northern Star Resources Ltd (NSR) was founded in December 2003 to search for and develop ore deposits in the East Kimberley region of Western Australia.[1] It was listed on the Australian Securities Exchange in December 2003.[2] With Jubilee Mines NL as the cornerstone investor, it initially focused on greenfields exploration near Halls Creek but was unsuccessful and by the Global Financial Crisis was "teetering on bankruptcy".[3]
In 2007, Bill Beament was appointed CEO. He subsequently led a recapitalisation of the company with Michael Fotios, raising funds at 1.25 cents per share and with a market capitalisation of just $1 million. Beament sought to refocus on undervalued mining assets using his background as an underground geologist.[3] In 2010, Northern Star made its first major acquisition by buying the Paulsens Gold Mine from Intrepid Mines Limited for $40 million.[4]
The Paulsens acquisition launched Northern Star as a gold producer and during the 2014 financial year the company rapidly expanded by buying four additional mines, including Jundee Gold Mine. This made it "the nation's second-biggest goldminer, behind Newcrest Mining".[5] Beament was appointed executive chairman in 2016.[6]
In 2019, Northern Star announced the acquisition of a 50 percent stake in the Super Pit gold mine from Newmont Goldcorp for $US800 million.[7] In October 2020, a merger between NSR and Saracen Mineral Holdings, its joint venture partner in the Super Pit, was proposed. The merger was completed in February 2021 when Saracen was de-listed from the Australian Securities Exchange.[8][9]
By 2026, following a surge in gold prices, Northern Star had reached a market capitalisation of $44 billion and was "the country's largest listed gold producer".[10]
Operations
Current
- Carosue Dam Gold Mine (4 underground mines: Karari, Whirling Dervish, Porphyry[11] 45 km north and Deep South mine 70 km to the North)
- Jundee Gold Mine[12]
- Kanowna Belle Gold Mine[13]
- KCGM Operations (Kalgoorlie Super Pit and Mt Charlotte underground)[14]
- Pogo Gold Mine[15]
- South Kalgoorlie Gold Mine or Jubilee Gold Mine[16]
- Thunderbox Gold Mine (1 underground mine: Thunderground & 2 Open Pit Mines)
Former
- Plutonic Gold Mine[17]
- Kundana Gold Mine and East Kundana Joint Venture (51 percent Northern Star Resources), sold to Evolution Mining in July 2021[18]
- Paulsens Gold Mine sold to Black Cat Syndicate in June 2022[19]
References
- ^ Prospectus Northern Star Resources 6 November 2003
- ^ Northern Star Resources Limited: Admission to Official List Australian Securities Exchange 15 December 2003
- ^ a b Durkin, Patrick (13 May 2016). "Why Bill Beament of Northern Star Resources tops the CEOs Who Deliver 2016". Australian Financial Review. Retrieved 14 March 2026.
- ^ Mills, Michael (30 June 2010). "Intrepid sells Paulsens gold mine to Northern Star for revised offer". Australian Mining. Retrieved 8 April 2022.
- ^ Ker, Peter (14 May 2014). "Northern Star buys coveted Jundee mine". Sydney Morning Herald. Retrieved 14 March 2026.
- ^ Ingram, Tess (1 September 2016). "Northern Star Resources makes big board changes". Australian Financial Review. Retrieved 14 March 2026.
- ^ Thompson, Brad (17 December 2019). "Northern Star joins Saracen at Superpit mine". Australian Financial Review. Retrieved 14 March 2026.
- ^ Haselgrove, Salomae (6 October 2020). "Super merger: Northern Star and Saracen to join forces". Australian Mining. Retrieved 5 April 2022.
- ^ Kelly, Elise (12 February 2021). "Northern Star (ASX:NST) completes merger with Saracen (ASX:SAR)". The Market Herald. Retrieved 5 April 2022.
- ^ Wembridge, Mark (13 March 2026). "Gold giant Northern Star crashes to earth after another guidance cut". Australian Financial Review. Retrieved 14 March 2026.
- ^ "Rapid deployment solar and battery cubes to slash diesel use at WA gold mine". RenewEconomy. 8 May 2024.
- ^ Northern Star completes takeover of Jundee gold mine Australian Mining 3 July 2014
- ^ Northern Star buys two more of Barrick's gold mines Australian Mining 23 January 2014
- ^ Northern Star becomes Super Pit joint owner Australian Mining 6 January 2020
- ^ Northern Star to acquire Pogo gold mine for $US260m Australian Mining 30 August 2018
- ^ Mineral Resources at 31 March 2021 Northern Star Resources
- ^ Company Overview Superior Gold
- ^ "Evolution to expand Kalgoorlie foothold with Kundana acquisition". Australian Mining. 22 July 2021. Retrieved 4 April 2022.
- ^ Completion of Coyote and Paulsens Acquisitions Black Cat Syndicate 15 June 2022
External links
- MINEDEX website: Northern Star Resources Ltd Database of the Department of Mines, Industry Regulation and Safety