Alkane Resources and Mandalay Resources have announced an all-share merger valued at AU$1.01 billion, creating a global gold and antimony producer.

Australian mining company Alkane Resources has signed a definitive arrangement agreement with Canadian miner Mandalay Resources for a "merger of equals" to create a diversified gold and antimony producer.

Australia's Alkane Resources and Canada’s Mandalay Resources have agreed to merge in an all-share transaction valued at about A$1.01-billion (C$898-million), creating a diversified gold and antimony producer with operations in Australia and Sweden.