CMOC-Northparkes Mines (Northparkes) is a copper and gold mine located 27 kilometres north-west of Parkes, in the Central West of New South Wales, Australia. Northparkes is a joint venture between China Molybdenum Co., Ltd (CMOC) (80%) and the Sumitomo Groups (20%) with CMOC the operator of Northparkes.
“Northparkes will be a new cornerstone asset, with robust cash flows over a very long mine life in a top-tier mining jurisdiction. This is a globally recognized mine with an excellent track record of safety, operations, reserve replacement and community involvement further bolstering and diversifying our portfolio.“ Shaun Usmar, CEO of Triple Flag Precious Metals
On July 17, 2020, Triple Flag announced the closing of the acquisition, by its wholly-owned subsidiary, Triple Flag Mining Finance Bermuda Ltd. of a gold and silver stream agreement with certain subsidiaries of China Molybdenum Co., Ltd. to receive gold and silver deliveries determined by reference to production from the Northp