Evolution Mining to acquire an 80% stake in Northparkes Copper-Gold Mine from CMOC Group for $475m.

Evolution Mining, an Australian gold mining company, agreed to acquire an 80% stake in Northparkes Copper-Gold Mine from CMOC Group, a mining company, for $475m. "The acquisition of Northparkes represents a unique opportunity to add another quality asset to our portfolio, strengthening our positioning as a business that prospers through the cycle. Northparkes is a Day-1 cashflow producing asset with a ~30-year mine life, considerable upside and a well-established team that has a great track record and technical experience at the operation," Jake Klein, Evolution Mining Executive Chairman.