Triple Flag closes US$550 million gold and silver stream with China Molybdenum on its Northparkes Mine in Australia
On July 17, 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 and silver streaming transaction between Triple Flag Bermuda and certain subsidiaries of China Molybdenum Co., Ltd. Triple Flag Bermuda will receive gold and silver deliveries determined by reference to production from the Northparkes copper-gold mine located in New South Wales, Australia. Triple Flag Bermuda made an upfront cash payment of US$550 million and will make on-going payments equal to 10% of the spot gold price and spot silver price, as applicable, for 54.0% of all gold and 80.0% of all silver produced at Northparkes.
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.
CMOC is an international mineral resources company engaged in exploration, mining, processing, refining, marketing and trading of mineral products.
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