Latest Deals

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Whitehaven Coal has concluded the acquisition of the Daunia and Blackwater coal mines in Queensland,  from the BHP Mitsubishi Alliance (BMA). The transaction, which will see Whitehaven Coal purchasing the coal mines for up to $4.1bn (A$6.45bn) in cash, was conducted through two of Whitehaven’s subsidiaries. At closing, Whitehaven Coal paid BMA $2bn in cash along with a preliminary completion adjustment of $44.1m for working capital. The company will make additional payments over the next three years, amounting to $1.1bn.

Australian Rare Earths (AR3) has reached an option deal to acquire Valrico Resources, the holder of the rights to the Overland uranium project. It will take over exploration licence applications 2024/14 and 2024/15 in the Murray Basin, South Australia. AR3 will pay an option fee of A$50,000 ($32,986) within five days of the agreement. Following the granting of exploration licences, a further payment of A$570,000 in cash and A$230,000 in AR3 shares will be made.

Stanmore Resources has sealed the acquisition of the remaining 50% stake in the Eagle Downs coal project and a 100% interest in the Eagle Downs South tenements in Queensland, from Aquila. The company agreed to pay $15m (A$22.79m) for Eagle Downs and $2m for Eagle Downs South at closing. Additional payments of $20m and $10m are due upon extraction of the first 100,000 tonnes of coal from each site, respectively.

Australian gold miner Westgold Resources has announced a definitive arrangement agreement to acquire all shares of Karora Resources, creating a mid-tier gold miner with a market capitalisation of around A$2.2bn ($1.4bn). The acquisition is set to establish a diversified gold company with an annual gold production capacity of 400,000oz, focused on Western Australia and featuring a comprehensive portfolio of exploration, development and production assets.