Divestiture • Metals/Mining

Royal Gold Acquires Mt. Milligan project

On October 20, 2010, Royal Gold acquired metals/mining company Mt. Milligan project from Thompson Creek Metals for 312M USD

Acquisition Context
  • This is Royal Gold’s 4th transaction in the Metals/Mining sector.
  • This is Royal Gold’s 2nd largest (disclosed) transaction.
  • This is Royal Gold’s 3rd transaction in the United States.

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M&A Deal Summary

Date October 20, 2010
Target Mt. Milligan project
Sector Metals/Mining
Buyer(s) Royal Gold
Sellers(s) Thompson Creek Metals
Deal Type Divestiture
Deal Value 312M USD

Target Company

Mt. Milligan project

United States
The Mt. Milligan project proven and probable reserves total 482 million tonnes (0.20% copper; 0.39 g/t gold), containing 2.1 billion pounds of copper and 6.0 million ounces of gold.
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Buyer Overview 1

Buyer

Royal Gold

Denver, Colorado, United States

Category Company
Founded 1981
Sector Metals/Mining
Employees30
Revenue 719M USD (2024)
DESCRIPTION

Royal Gold is a precious metals royalty and stream company engaged in the acquisition and management of precious metal royalties, streams, and similar production based interests. The Company owns interests on 198 properties on six continents, including interests on 37 producing mines and 23 development stage projects. Royal Gold was founded in 1981 and is based in Denver, Colorado.


Deal Context for Buyer #
Overall 4 of 12
Sector: Metals/Mining 4 of 12
Type: Divestiture 4 of 9
Country: United States 3 of 4
Year: 2010 1 of 1
Size (of disclosed) 2 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-04-06 Andacollo mine

Chile

The Andacollo mine producing copper cathodes from the oxide portion of the deposit. A mill and flotation circuit to produce copper and gold from the sulfide portion of the deposit, known as the "Hypogene Project," is currently under construction.

Buy $100M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-17 Kerr-Sulphurets-Mitchell project

British Columbia, Canada

Kerr-Sulphurets-Mitchell project deposit has proven and probable reserves of 2.2 billion tonnes at an average grade of 0.55 grams per tonne of gold (38.5 million ounces), 0.21% copper (10 billion pounds), and 3.04 grams per tonne silver (214 million ounces).

Buy CA$30M

Seller Profile 1

SELLER

Thompson Creek Metals

Littleton, Colorado, United States

Category Company
Founded 1983
Sector Metals/Mining
Revenue 806M USD (2014)
DESCRIPTION

Thompson Creek Metals Co., Inc. is a mining company. The Company's diversified reserves include copper, gold, and molybdenum. Thompson Creek Metals was founded in 1983 and is based in Littleton, Colorado.


Deal Context for Seller #
Overall 1 of 1
Sector: Metals/Mining 1 of 1
Type: Divestiture 1 of 1
Country: United States 1 of 1
Year: 2010 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-20 Terrane Metals

Vancouver, British Columbia, Canada

Terrane Metals Corp. holds interests in the Mt. Milligan copper-gold project located in north-central British Columbia; and the Berg copper-molybdenum-silver project located in central British Columbia.

Buy CA$241M