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Business|Copper|Gold|Mining|PROJECT
Business|Copper|Gold|Mining|PROJECT
business|copper|gold|mining|project

Anglo sells gold, iron-ore royalties to Australian fund manager

Onslow iron-ore project

Onslow iron-ore project

22nd July 2024

By: Marleny Arnoldi

Deputy Editor Online

     

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Diversified miner Anglo American has signed a definitive agreement to sell two royalties to Taurus Funds Management for up to $195-million in cash.

The transaction comprises an upfront cash payment of $150-million and up to $45-milion in a deferred cash consideration that is subject to certain conditions.

The royalties involve iron-ore from the Onslow project, in Australia, in which Taurus will acquire a subsidiary company of De Beers that owns the royalty for $125-million and up to $25-million in deferred cash; as well as a gold and copper royalty related to the Caspiche project, in Chile, for an upfront cash consideration of $25-million and up to $20-million in deferred cash.

Anglo expects the deal to close during the last quarter of the year.

Taurus is a business management consultancy based in Australia. It provides project and acquisition finance debt to emerging mining and metals companies. The company has investments in both public and private resource companies globally.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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