Brink Gold Corp, the second largest gold producer in the world, is studying new investment opportunities in Canada as the price of the precious metal continues to rise.

Bloomberg News reported that Marc Presto, the company's CEO, has been cautious about entering major deals, but is focusing on investment opportunities to buy or establish a gold mining project in Canada, the company's birthplace.

Bloomberg quoted Presto saying, “It's a good place to invest, and if there’s one place we’re looking at all the time, it’s Canada... Do we want more investment in Canada? Of course, yes.”

This comes as rising gold prices have pushed mining companies to expand through acquisition deals in stable countries.

Gold Fields Limited announced today the purchase of Osisko Mining in Canada for $1.6 billion, allowing Gold Fields, listed on the Johannesburg Stock Exchange in South Africa, to take full control of a large Canadian coal mining project and diversify its supply sources away from South Africa's mines.

Unlike competing companies such as Newmont Corp and Agnico Eagle Mines Limited, which have executed large acquisition deals over the past two years, Brink Gold has refrained from entering such deals since acquiring Randgold Resources in 2019. Instead of acquisitions, the company has focused on expanding its existing projects and has developed a large copper production project in Pakistan.

In an interview with Bloomberg Television, Presto said, “We have been very cautious in making mergers and acquisitions... What we have made clear is that we had many obligations to fulfill in the acquisition deal we made 5 years ago.”