Feb 2 (Reuters) - Eldorado Gold (ELD.TO) , opens new tab said on Monday it would acquire Canada's Foran Mining (FOM.TO) , opens new tab in a deal valuing the copper-focused developer at about C$3.8 billion ($2.79 billion), adding a second near-term growth project and increasing its exposure to copper.

The deal expands Eldorado's production at a time of strong gold prices and rising demand for copper, a key material used in electrification and clean energy.

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Foran shareholders will receive 0.1128 Eldorado shares plus C$0.01 per share, giving them roughly 24% of the merged company.

The deal is expected to close in the second quarter of 2026.

The transaction has unanimous board approvals on both sides and support agreements from senior executives, with shareholder votes scheduled by April 14, the company said.

($1 = 1.3633 Canadian dollars)

https://www.reuters.com/business/eldorado-buy-foran-mining-2026-02-02/