trending Market Intelligence /marketintelligence/en/news-insights/trending/eRriLAggaKd24UkkJ-91MQ2 content esgSubNav
In This List

Strategic Minerals makes move for Leigh Creek copper mine

Blog

Essential Metals & Mining Insights - October 2021

Blog

Post-webinar Q&A: Global Credit Risk Trends 2021 and Beyond

Video

Essential Metals & Mining Insights - September 2021

Blog

Lithium and Cobalt CBS September 2021 — Lithium price surges, cobalt range-bound


Strategic Minerals makes move for Leigh Creek copper mine

Strategic Minerals Plc has agreed to buy the Leigh Creek copper mine in South Australia from Resilience Mining Australia Pty. Ltd.

The company said Oct. 16 that it signed a binding term sheet to acquire Leigh Creek Copper Mine Pty. Ltd., which owns the mine, the exploration and mining rights and associated copper processing assets.

Strategic has until Dec. 14 to conduct due diligence. The company will also provide an interest-free A$500,000 loan to Leigh Creek Copper Mine.

Upon exercise of the option, Strategic will grant a 20% sales royalty to Resilience Mining, capped at A$3.65 million, and subscribe to A$1 million of Leigh Creek Copper Mine shares.

The project requires a capital investment of A$1.8 million to restart mining and has an initial life of three years.