On 30 December 2016, MMG entered into a conditional share sale agreement with EMR Golden Grove Holdings Pty Ltd, an entity owned and managed by EMR Capital, for the purchase of MMG Golden Grove Pty Ltd for US$210 million. Economic risk and benefit of the Golden Grove mine were passed to EMR BidCo from 1 January 2017 and the share sale agreement was completed on 28 February 2017.
For further information on the sale, please read the Media Release.
Golden Grove is a base and precious metals mine located in Western Australia, Australia.
It is located approximately 450 kilometres north-east of Perth and 250 kilometres east of Geraldton.
The two underground mines produce zinc in zinc concentrate, copper in copper concentrate and a high precious metals (HPM) concentrate using sub-level stoping.
||Approximately 450 kilometres north-east of Perth and 280 kilometres east of Geraldton in Western Australia.
||Zinc concentrate, copper concentrate, precious metal concentrate
||Underground, sub-level open stoping
||Conventional grinding and flotation
||Concentrates are exported through the nearby Port of Geraldton to smelters in China, Japan, India, Thailand and Australia.