Latest Deals

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Whitehaven Coal has entered a $1.08bn (A$1.62bn) cash deal to offload 30% of the Blackwater coal mine in Queensland, Australia, to Nippon Steel and JFE Steel. The two steel giants will acquire 20% and 10% interests respectively in Blackwater, which Whitehaven acquired from a joint venture of BHP and Mitsubishi. Both Nippon Steel and JFE Steel will pay their share of the consideration upfront upon their deals’ closure, anticipated in early 2025. The transactions await regulatory and competition clearances. The Blackwater mine has an annual run-of-mine coal production of 12-13mtpa.

CuFe has signed a binding term sheet for the sale of its iron ore rights at the JWD mine in Western Australia (WA) to Newcam for A$12m in cash. The deal includes the transfer of all operational contracts, authorisations and contributions to the rehabilitation fund for the JWD mine. Additionally, stockpiles of iron ore and waste material at the site are part of the agreement. The transaction awaits shareholder approval and regulatory consents.

NickelX has signed a binding agreement to acquire 100% of the Penny South gold project in WA from Aurum Resources. The project is situated approximately 550m south of the Ramelius Resources-operated high-grade Penny West/North gold mine. Under the agreement, NickelX will pay A$60,000 ($40,588) in cash and issue three million shares to acquire 100% of the project. Additional deferred cash considerations of A$500,000 are structured around the confirmation of gold resources.

Anax Metals has entered a memorandum of understanding (MoU) with Artemis Resources to explore technical studies and regulatory approvals necessary for processing Artemis’ Greater Carlow copper resource at the Whim Creek hub in Western Australia. The hub is set to include a new 400,000 tonnes per annum (tpa) concentrator and a refurbished heap leach facility. The MoU is valid for 12 months.