Newcrest Australian and African gold royalty portfolio acquired by international investors

December 15, 2021

Thomson Geer has advised UK and Canadian listed Altus Strategies plc and United Arab Emirates specialist mining and streaming company AlphaStream Capital on their joint acquisition of a gold royalty portfolio from Newcrest Mining Limited valued at US$37.5 million. Altus is undertaking a capital raising in London to partially fund the acquisition.

The royalty portfolio includes 23 royalties over Australian assets and one in Africa. The acquisition follows Altus’ recent acquisition of a royalty over the producing Caserones Copper Mine in Chile. After the acquisition, Altus’s global portfolio will comprise 33 royalties and 27 projects interests, across nine countries and nine separate metals.

The acquisition of Newcrest’s gold royalty portfolio presents an exciting 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.

Thomson Geer Partner Hedley 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.

“This royalty portfolio includes three cash paying royalties and royalties across 21 development and exploration stage projects providing a reliable revenue stream for Altus and Alphastream together with future revenue growth potential,” he said.

The Thomson Geer team was led by partner Hedley Roost and included special counsel Helen Jin and lawyer Kajal Parmar.

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