Eldorado Gold to acquire Foran Mining for $3.8 billion

George Burns, CEO of Eldorado Gold, and Dan Myerson, CEO of Foran Mining, join BNN Bloomberg to discuss Eldorado's acquisition of Foran Mining.

VANCOUVER — Eldorado Gold Corp. says it has signed a deal to acquire Foran Mining Corp. that values the company at $3.8 billion.

Eldorado chief executive George Burns says the combination creates a stronger gold and copper growth company, with a portfolio of long-life assets, exploration upside and exposure to critical minerals across a multi-jurisdictional portfolio.

Under the agreement, Foran shareholders will receive 0.1128 of an Eldorado share plus a penny in cash for each Foran share held.

Eldorado shares closed at $58.42 on the Toronto Stock Exchange on Friday, while Foran shares finished last week at $6.59.

Eldorado shareholders will hold about 76 per cent of the combined company, while Foran shareholders will own about 24 per cent.

The deal, which requires a vote by Foran shareholders, is also subject to regulatory approvals and other closing conditions.

This report by The Canadian Press was first published Feb. 2, 2026.