- Write by:
-
Monday, July 13, 2020 - 6:45:07 PM
-
482 Visit
-
Print
Mining News Pro - Mine financing company Triple Flag Precious Metals Corp said on Sunday it has agreed to pay $550 million upfront as part of a streaming financing deal with China Molybdenum Co Ltd (CMOC) for future production of precious metals at CMOC’s Northparkes mine in Australia.
Streaming transactions are a type of alternative financing in the mining industry where funds are provided upfront to a miner in exchange for the sale of a fixed amount of future production of metals at a discounted price.
The deal, between units of the two companies, gives Triple Flag rights to a majority of gold and silver to be produced at the mine in New South Wales until the Toronto-based company receives 630,000 ounces of gold and 9 million ounces of silver.
Thereafter, Elliott Management-backed Triple Flag would continue to receive less than half of the gold and silver produced at the mine.
On top of the $550 million upfront payment, Triple Flag would also pay CMOC 10% of the spot gold and spot silver price for each ounce at the time of each delivery.
Short Link:
https://www.miningnews.ir/En/News/565609
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
Gold took a tumble as haven demand waned after geopolitical tensions eased in the Middle East.
Adriatic Metals is taking over as the operator of the Rupice deposit development, which is part of the company’s Vares ...
The four largest indigenous communities in Chile’s Atacama salt flat suspended dialogue with state-run copper giant ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Representatives from the Peñas Negras Indigenous community, in northwestern Argentina, clashed with heavily armed police ...
Newmont confirmed on Wednesday that two members of its workforce died this week at the Cerro Negro mine located in the ...
Rio Tinto said on Wednesday it is teaming up with a global venture studio and start-up investor to back the development ...
Chinese investors are snapping up stocks tied to high-flying metals from copper to gold, aiding an onshore market facing ...
No comments have been posted yet ...