CopperChem leaps on Jaguar
Image: IGO. BY REUBEN ADAMS INDEPENDENCE Group (IGO) has confirmed an evolving focus on assets “aligned to the emerging super-cycle for energy storage minerals” after announcing the sale of its Jaguar zinc-copper operation in WA to CopperChem for just $73.2m. In June last year CopperChem, a subsidiary of diversified investment house Washington H. Soul Pattinson and Company, also acquired IGO’s Stockman copper-zinc project in north east Victoria for $47.5m. IGO acquired both the Jaguar/Bentley and Stockman assets in a $531m takeover of Jabiru Metals in 2011. $25 million will be paid on completion of the Jaguar transaction – scheduled for 31 May — and an additional $48.2 million in deferred cash payments. The transition of ownership will be rapid, with…