Emperor Mines is now one of the largest gold producing companies listed on the Australian Stock Exchange after acquiring 237-million US dollars of DRD Gold's assets in Papua New Guinea.
The miner now owns a 20 per cent interest in the Porgera Joint Venture, a 100 per cent interest in the Tolukuma Gold Mine and all of DRD Gold's exploration tenements in PNG.
The National newspaper reports that as result of the transaction Emperor also snared interests in the Vatukoula gold mine in Fiji.
Emperor chairman Jim Wall says the company now has reserves and resources of 2.2 million and 7.6 million ounces of gold, respectively.
The three producing gold mines and substantial exploration tenements in the South Pacific region will be managed and controlled through Emperor's head office located in Brisbane.