https://www.miningweekly.com

Kirkland Lake pursues arbitration over Centerra’s royalty portfolio sale

27th June 2018

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

Font size: - +

Triple-listed Kirkland Lake on Wednesday announced that it would pursue arbitration over Canadian miner Centerra Gold’s sale of its royalty portfolio to Triple Flag Mining Finance Bermuda, stating that its Fosterville gold mine, in Australia, had certain rights over a 2% royalty.

Kirkland stated that in terms of Fosterville’s royalty agreement with Centerra subsidiary AuRico Metals Royalty Corporation (AMARC), it had the right of first offer, or first refusal, in the event of the sale of the 2% royalty.

Kirkland said that the sale of AMARC to Triple Flag was contrary to the royalty agreement, unless Fosterville was offered an opportunity to exercise its rights.

Centerra announced earlier in the day that it had completed the sale of AuRico Metals and AMARC to Triple Flag for $155-million in cash.

The royalty sale was announced in May this year and formed part of a larger transaction between Centerra and Triple Flag that also included a silver stream on the Kemess project, in Canada, for $45-million.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 
Tsurumi Pumps Africa
Tsurumi Pumps Africa

Tsurumi Pumps Africa is a specialist supplier of Japanese-engineered submersible pumping solutions, serving customers across the African continent.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 14 August 2026
Magazine round up | 14 August 2026
14th August 2026

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.048 0.069s - 128pq - 2rq
Subscribe Now