trending Market Intelligence /marketintelligence/en/news-insights/trending/auHRw-4lt_dqQpqYYOnURQ2 content esgSubNav
In This List

Queensland Mining to off-load White Range copper project for A$53M

Blog

Insight Weekly: SPAC momentum builds on; higher rates fear; copper prices rebound

Blog

Greenhouse gas and gold mines - Emissions intensities unaffected by lockdowns

Blog

Q&A: U.S. Battery Storage and Global Battery Metals Trends Webinar

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


Queensland Mining to off-load White Range copper project for A$53M

Queensland Mining Corp. Ltd. is selling its White Range copper project in Queensland, Australia, to Moly Mines Ltd. in a A$53 million binding deal.

The company said Oct. 13 that it will sell all five wholly-owned subsidiaries that hold the White Range project tenements.

Moly Mines will pay A$45 million in cash and issue A$8 million of convertible notes, which give Queensland Mining the right to take a 10% interest in White Range.

The transaction is expected to close in December.

Queensland had been planning to develop the project with a partner, but Moly Mine's offer to buy White Range is attractive and, in the current environment, is preferable to developing the project for production on its own, Queensland Mining said in a release.