Glencore and Osisko Bermuda Limited, a wholly owned subsidiary of Osisko Gold Royalties, have received approval from the Australian Foreign Investment Review Board (FIRB) for their investment in Metals Acquisition Corporation as part of the proposed acquisition of the CSA Copper Mine.
These latest approvals are in addition to MAC’s own FIRB approval which it received on August 29, 2022 – as a result, the transaction is not subject to any further Australian foreign investment approvals.
Mick McMullen, MAC CEO, said: “We are pleased to inform our shareholders that Osisko and Glencore have satisfied these key conditions precedent under the CSA acquisition agreement and streaming funding agreement respectively as we work towards obtaining shareholder approval and closing the transaction.
“This is another significant milestone for MAC as it nears the close of the transaction – we encourage all shareholders to vote FOR the transaction on June 5, 2023.”
CSA, in operation since 1967, is a producing, high-grade, underground copper mine located in the Tier 1 mining jurisdiction of western New South Wales.
