International news within the industry of mining and metal, Nov, 15 2018
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Canadian gold miner sells assets for $200M

Photo: Centerra Gold
Photo: Centerra Gold
Published by
Jaroslaw Adamowski - 23 May 2018

Canadian gold miner Centerra has announced it is selling its offhoot AuRico Metal’s royalty portfolio and a silver stream on the Kemess project to Triple Flag Mining Finance Bermuda for a total of $200 million.

 

The Royalty Sale is expected to be completed during the second quarter of 2018, the Canadian miner said in a statement.

 

“The high-quality Centerra precious metals royalty portfolio is a per-fect fit for Triple Flag’s substantial and growing portfolio of precious metal royalty and streaming assets. The Kemess silver stream also nicely complements our suite of growth assets,” said Shaun Usmar, the chief executive of Triple Flag Mining Finance Bermuda, as quoted in the statement.

 

Centerra owns properties in North America and Asia, among others, and says it is the largest Western-based gold producer in the Central Asian region. The company is listed on the Toronto Stock Exchange (TSX).