Oracle Ridge. Image courtesy of Eagle Mountain Mining Limited. Eagle Mountain Mining Limited (Eagle Mountain or the Company) has executed a binding agreement with Vincere Resource Holdings LLC (Vincere) to acquire its 20 per cent interest in Wedgetail Operations LLC, owner of the Oracle Ridge Copper Project in Arizona. Following completion, Eagle Mountain will own 100 per cent of Oracle Ridge through its wholly-owned US subsidiary companies Wedgetail Holdings LLC and Wedgetail Operations LLC. The consideration for the purchase is the issue of 10 million fully paid ordinary shares in Eagle Mountain which are to be issued by 3 May…

The Tropicana Gold Mine site. Image source: Anglo Gold Ashanti Australia. Photography credit: Philip Gostelow. IGO Limited (IGO or the Company) has provided an update on the binding agreement to divest its 30 per cent stake in the Tropicana Gold Mine to Regis Resources Limited (Regis), as announced on 13 April 2021. The key condition precedent to completing the transaction with Regis was the waiver or non-exercise of a right of last refusal (ROLR) held by AngloGold Ashanti Australia Limited (AngloGold Ashanti), which owns the remaining 70 per cent stake in Tropicana. AngloGold Ashanti is also the mine’s operator. IGO…

374 mergers and acquisitions (M&A) deals were announced in the metals and mining sector during Q1 2021, according to a new report by GlobalData. Deal value for the sector also rose by 8.3 per cent from US$12 billion in Q1 2020 to US$13 billion in Q1 2021. In its latest report, GlobalData outlines that TD Securities were the top M&A financial adviser in the sector for Q1 2021 by volume, while Goldman Sachs and Perella Weinberg Partners jointly held the top position by value. Both Goldman Sachs and Perella Weinberg Partners advised on one deal each worth US$1.7 billion, which…

Superannuation funds that follow environmental, social and governance (ESG) principles collectively manage over $1.6 trillion. This is equivalent to 71 per cent of the superannuation savings overseen by the superannuation regulator, APRA. This makes Australia’s ESG superannuation coverage ratio among the highest in the world. In recognising the growing commitment towards ESG investing by super funds, which may also be referred to as sustainable, responsible, or ethical investing, Rainmaker Information has released the findings of its inaugural ESG Superannuation Taxonomy Study as part of its latest Superannuation Benchmarking Report. “The purpose of the study was to explore what it actually…

Powering out of a once-in-a-generation recession with a V-shaped recovery, the Australian economy has certainly emerged from the COVID-19 pandemic better than its peers. Thanks to the country’s early success in curbing the virus spread and dedicated fiscal and monetary support, the nation has managed to withstand the disruptions of the pandemic stronger than anticipated. Although Australia is well on its way to “winning the COVID-19 war”, the path to a sustainable economic recovery appears bumpy and uneven. Reduced efficacy of existing vaccines, along with a delay in vaccination rollout, continues to pose risks to the pace of economic recovery.…

Image courtesy of Artemis Resources Limited. Artemis Resources Limited and its wholly-owned subsidiary Armada Mining Pty have executed a Land Access and Mineral Exploration Agreement with the Western Desert Lands Aboriginal Corporation (Jamukurnu-Yapalikunu) (WDLAC) relating to Exploration Licence E45-5276. The Paterson Central Project covers 605 square kilometres and is located in the Yaneena Basin of the Paterson Province, which hosts large scale mineral deposits, such as the world-class Telfer Gold-Copper Mine, recently discovered Winu copper-gold deposit, Nifty Copper Mine, and the rapidly growing Havieron gold and copper deposit. The project forms a part of Artemis’ 100 per cent owned exploration…

Image: Auckland (view from Mt Eden). On 13 April 2021, Commerce and Consumer Affairs Minister, David Clark, said that Aotearoa New Zealand has become the first country in the world to introduce a law that requires the financial sector to disclose the impacts of climate change on their business and explain how they will manage climate-related risks and opportunities. The Financial Sector (Climate-related Disclosure and Other Matters) Amendment Bill has been introduced to Parliament and received its first reading last week. “It is important that every part of New Zealand’s economy is helping us cut emissions and transition to a low…