Royal Gold announces commitment to acquire royalties on producing copper-gold-nickel mines in Brazil for $250M RoyalGold
- Royal Gold announced on Monday that its wholly-owned subsidiary has entered into a binding commitment letter with ACG Acquisition Company to acquire new royalty interests on the producing Serrote and Santa Rita mines in Brazil for total cash consideration of $250 million, subject to satisfaction of certain conditions, including negotiation and execution of definitive documentation.
Royal Gold noted that ACG Acquisition Company has agreed to acquire the Serrote and Santa Rita mines from funds advised by Appian Capital Advisory, adding that the company has agreed to pay the cash consideration for the royalty interests upon the closing of the transaction between ACG and Appian, which is expected to occur by the end of July 2023.
Life of mine copper production is expected to average approximately 44 million pounds per year at an approximate 85% recovery rate and all-in sustaining cost of approximately $1.85 per pound. Gold recovery is targeted at 65% and gold accounts for approximately 7% of the expected revenue from the Serrote mine.
The open pit is expected to recover an average of 32 million pounds of nickel per year at an AISC of $5.26 per pound of nickel over the mine life. The projected revenue over the open pit mine life is approximately 84% nickel, 9% copper and 2% cobalt, with the remaining 5% from platinum, palladium, and gold.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Gold SWOT: A quarter of central banks anticipate increasing gold reservesCommentaries from industry expert Frank Holmes focusing on gold price movements, what's moving markets and what to expect in the metals sector. This includes his weekly Gold SWOT analysis, which is also featured in his own Kitco News show Gold Game Film
Lire la suite »
Glencore, automakers to back US$1-billion nickel and copper SPAC deal in BrazilThe deal comes as a mining M&A spree picks up, spurred in part by investors betting on rising demand for metals needed for the global green energy transition in coming years
Lire la suite »
Gold market analysis for June 12 - key intra-day price entry levels for active traders
Lire la suite »
Gold price up slightly as major U.S. data loomsSenior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developments
Lire la suite »
Monday's Charts for Gold, Silver and Platinum and Palladium, June 12Get the Big Picture view on gold, silver and other precious metals markets with Kitco Senior Analyst. With thorough analysis, get a sense of today's market as well as where it may be heading. Be in the lead.
Lire la suite »