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Evolution completes Ernest Henry deal

AAP logoAAP 31/10/2016

Evolution Mining has completed its acquisition of an $880 million stake in the Ernest Henry copper and gold mine from Glencore.

Evolution says all conditions for the deal - announced in August and funded through debt and a rights issue - have been satisfied or waived, and that it now owns the right to 100 per cent of future gold and 30 per cent of future copper and silver production from the Queensland mine.

Ernest Henry's contribution means Evolution is now forecasting FY17 group gold production of 800,000 to 860,000 ounces at an all-in sustaining cost of $900 to $960 per ounce.

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