South32 strikes $185m royalty deal

Diversified miner South32 has struck a $185-million copper and nickel royalty deal with London-based Anglo Pacific Group.

The agreement also includes contingent payments of up to $15-million.

South32 on Tuesday said that the base metal royalties were across third party interests in a mix of producing assets and advanced development stage projects, mostly in copper and nickel in Australia, the US and Chile. These projects included the West Musgrave project, in Western Australia, owned by ASX-listed Oz Minerals, and the Santo Domingo project, in Chile, owned by Capstone Copper.