Triple Flag closes US$145 million gold stream with RBPlat on its platinum group metals operations in South Africa

Torys acted as counsel to Triple Flag with a team that included Michael Pickersgill, Amanda Balasubramanian and Carly Klinkhoff.

On January 23, 2020, Triple Flag Precious Metals Corp. ("Triple Flag") announced that its wholly-owned subsidiary, Triple Flag Mining Finance Bermuda Ltd. ("Triple Flag Bermuda") closed the previously announced gold streaming transaction between Triple Flag Bermuda and Royal Bafokeng Resources Proprietary Limited, a wholly-owned subsidiary of Royal Bafokeng Platinum Limited ("RBPlat"). Triple Flag Bermuda will purchase 70% of the payable gold produced by RBPlat over the life of their platinum group metals operations in exchange for an upfront cash prepayment of US$145 million and an on-going payment equal to 5% of the spot gold price at the time of delivery for each ounce delivered.

Further information can be found on Triple Flag's website.

Triple Flag is a precious metals streaming and royalty company offering bespoke financing solutions to the metals and mining industry.

RBPlat is a mid-tier PGM producer, originating from a joint venture between Anglo American Platinum and Royal Bafokeng Holdings, mining platinum group metals from the Merensky and UG2 reefs on the Western limb of the Bushveld complex, located in the North West Province of South Africa.