Newcrest Mining royalties acquired

Altus Strategies and AlphaStream Capital have secured a joint acquisition of the gold royalty portfolio from Newcrest Mining.

Naomi Neilson • 31 December 2021 • SME Law

Firm: Thomson Geer (Altus Strategies, AlphaStream Capital)

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Deal: Thomson Geer has advised UK and Canadian listed Altus Strategies and United Arab Emirates specialist mining and streaming company AlphaStream Capital on the joint acquisition of gold royalty portfolio from Newcrest Mining.

Value: $37.5 million.

Area: M&A.

Key players: The team was led by partner Hedley Roost and included support from special counsel Helen Jin and lawyer Kajal Parmar.

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Deal significance: The royalty portfolio includes 23 royalties over Australian assets and one in Africa. The acquisition follows Altus’ recent acquisition of royalty over the producing Caserones Copper Mine in Chile. After the acquisition, Altus’ global portfolio will comprise 33 royalties and 27 projects interests.

The acquisition presents an opportunity for both Altus and AlphaStream to diversify their royalty portfolios. The acquisition also reflects the trend in larger mining companies divesting non-core assets to strengthen balance sheets.

Commenting on the deal, Mr Roost said: “Thomson Geer is pleased to have assisted Altus and AlphaStream with their first Australian acquisition. The acquisition reflects the strong interest in Australian mining assets from international investors.”