Latest Deals

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Westgold Resources has received approval from Australia’s Foreign Investment Review Board to acquire all the shares of Karora Resources through a court-approved plan of arrangement. Both companies’ boards have unanimously approved the transaction. This deal is expected to close on or around 31 July 2024, subject to the clearance of Karora shareholders as well as final court orders. Westgold entered a definitive arrangement agreement for the deal in April 2024, with an aim to create a mid-tier gold mining company with a capacity to produce 400,000oz of gold annually.

Anglo American has sealed agreements to sell two royalties to Taurus Funds Management. Taurus has agreed to purchase an iron ore royalty held by De Beers, which is linked to the Onslow iron project in West Pilbara, Australia, for an upfront cash payment of $125m and up to $25m in deferred payment. Taurus will also acquire a gold and copper royalty related to the Caspiche project in northern Chile for an upfront cash payment of $25m and up to $20m in deferred consideration.

ACG Acquisition has announced a $290m transaction with Lidya, a subsidiary of Çalık Holding, to fully acquire Polimetal Madencilik Sanayi ve Ticaret. The Gediktepe mine, currently an open-pit operation producing gold and silver that is set to transition to copper and zinc production from 2026, is now under ACG's umbrella. ACG is financing the deal using $100m in cash, $37m in its shares for Lidya, $67.5m in equity investments, $40m in gold prepayments, $110m in senior debt, $22.5m in mezzanine debt and $13m in cash flows.

ASX-listed Somerset Minerals has agreed to sell the Valle del Tigre mineral concession, located in south-east Ecuador, to Barrick Gold. Under the agreement, Barrick will pay Somerset $320,194 for the project. Upon completion of the transaction, which is scheduled for the December quarter of this year, Barrick will issue Somerset a 1.5% net smelter royalty over the project area.