Lingbao to acquire a 50% stake in St Barbara Mining from St Barbara for AUD370m.

Lingbao, a mining company, agreed to acquire a 50% stake in St Barbara Mining, a mining company, from St Barbara, a mining company, for AUD370m. “The investments by Lingbao and Kumul in Simberi will help us accelerate the development of the Simberi Expansion Project and the delivery of its value to our shareholders and key stakeholders in PNG. This is a high-quality brownfields project with low capital intensity, a highly competitive operating cost structure and long-life resource that has potential to grow in the future. With Lingbao we have a committed, experienced and a wellfunded partner. In addition, we welcome Kumul to the project as a co-investor. St Barbara is now fully funded for its expected share of the development costs of the Simberi Gold Project and to advance its Atlantic assets in Canada, including the Touquoy re opening and the development of 15 Mile Processing Hub6,” Andrew Strelein, Lingbao Managing Director and CEO.