Kinross Gold is buying the remaining 25% of the Kupol developer ZAO Chukotskaya Mining & Geological Co. Those shares are held by the Chukotka regional government. The company started acquiring Kupol mine in 2007 when it bought Bema Gold for $4.37 billion.

Shares of Kinross Gold have been on a steep rise close to the announcement and are short term overbought. Buy the rumor sell the new? Kinross is down over 1.5% in mid day trading.

Goldcorp has been pursing an aggressive M&A-driven growth strategy and now plans to focus on developing the current projects.

"M&A is not a high priority for us - focusing on delivering these new projects is our priority now," Goldcorp Chief Executive Chuck Jeannes said at the Reuters Global Mining & Steel Summit in Toronto.

Yamana Gold acquired 19.1 million shares of Aura Minerals, doubling its stake in the gold and metal producer.

Gold miners are lagging the metal prices and are now catching up at full speed. GDX was up 3.6% while the metal gained 0.78%. NovaGold continued the uptrend. Among large caps, Barrick gained 3.60% and US Gold rose impressive 11.10%. Shares of miners will likely continue to climb but are nearing resistance areas.

Newmont and Agnico Eagle CEOs expect the yellow metal continue to rise in the coming years. They predict $1500 to $1600 an ounce gold in the next 12 month and $1,750 or even $2,000 an ounce in the next few years.

They cited gold's use as a proxy currency, central bank gold purchases, rising demand from Chinese and Indian buyers, and an affinity for gold as an investment in developed economies as major driving forces behind the bull market.