Australian miner to sell gold mine

Photo: Evolution Mining

Australian gold miner Evolution Mining has announced plans to sell its Mt Carlton gold mine in the country’s Queensland state for up to A$90 million (US$67.5 million).


Under the company’s deal with Navarre Minerals Limited, the Mt Carlton gold mine is to be sold for a total consideration of up to A$90 million, consisting of an upfront payment in cash and shares in Navarre, with contingent payments linked to success at Crush Creek and the gold price. The transaction is expected to close in December 2021 with Navarre assuming an economic interest in the operation from 1 October 2021,” Evolution Mining said in a statement.


The Mt Carlton ore reserve represent a 1.6 percent share of Evolution Mining’s total ore reserves, according data from the Sydney-based company.