St Barbara sells PNG gold stake for $410 million plus construction repayment
St Barbara confirmed the divestment of its remaining interest in New Simberi to Lingbao Gold Group. The transaction includes a $410 million cash payment and an additional $43 million for prior construction capital.
St Barbara announced it has entered a deal to sell its remaining stake in the New Simberi gold project located in Papua New Guinea. The company is divesting this asset to Lingbao Gold Group. The agreement involves a cash payment of $410 million, plus a separate repayment of $43 million for construction capital previously funded by St Barbara. Upon completion, which is targeted for the March quarter of 2027, St Barbara will retain a 2.75% net smelter royalty on future gold and silver production from New Simberi. It will also hold a 1.5% royalty covering other minerals produced under Tabar Islands exploration licences. Following this transaction, St Barbara expects to hold approximately $880 million in cash with no debt. The company stated it would redirect focus to its 15-Mile Processing Hub project in Canada and restart production at the nearby Touquoy project. It recently raised its mine reserve estimate at 15-Mile to 2.5Moz of contained gold.
