LAC Minerals was a Canadian mining company established in 1981 with extensive mineral holdings in North America and South America. They specialized in mining precious metals, but also had copper and lead-zinc mines. In 1994 they were purchased by Barrick Gold Corporation.[1]
Corporate history
Originally incorporated in Quebec in 1981 as Long Lac Minerals Ltd., the company's name was changed to LAC Minerals Ltd. the following year when it acquired Les Terrains Aurifères Malartic (Québec) Ltée, Les Mines-Est Malartic Ltée, and Willroy Mines Ltd. In 1985, LAC Minerals Ltd. acquired Lake Shore Mines Limited, Little Long Lac Gold Mines Limited, and Wright-Hargreaves Mines Limited. In 1992, the company changed its name to Lac Minerals Ltd..[2] In 1994, Royal Oak Mines attempted a hostile takeover of the company,[3] but a more attractive bid was made by Barrick Gold, and Lac Minerals was acquired by AB Acquisition Inc., which was a wholly owned subsidiary of American Barrick Resources Corporation, since 1995 known as Barrick Gold Corporation.