2023-06-12 09:42:18 ET
Royal Gold ( NASDAQ: RGLD ) said Monday it agreed to acquire new royalty interests on the producing Serrote and Santa Rita mines in Brazil from ACG Acquisition Company for $250M in cash.
The royalty interests consist of a gold royalty on the Serrote mine; a gold, platinum and palladium royalty on the Santa Rita mine; and a copper and nickel royalty on both the Serrote and Santa Rita mines.
"This proposed acquisition meets our strategic criteria for investment, as the royalties will provide predominantly precious metals revenue on producing mines that we believe have excellent long-term potential, are run by experienced local operating management complemented by seasoned corporate leadership, and are located in a mining-friendly jurisdiction," Royal Gold ( RGLD ) President and CEO Bill Heissenbuttel said.
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For further details see:
Royal Gold buys royalties on producing Brazil mines in $250M deal