Regis acquires IGO’s Tropicana stake
IGO is selling its 30% stake in the Tropicana gold mine to Regis Resources so it can focus on commodities that align with its clean energy strategy. The $903 million deal will allow IGO to focus on battery metals, while Regis will inherit a Tier 1 gold asset and a ”world class” joint venture partner in AngloGold Ashanti. Located 330km northeast of Kalgoorlie in Western Australia, Tropicana is Australia’s fifth largest gold mine, producing 463,000 ounces of gold in the 2019-2020 financial year. IGO (ASX: IGO) managing director and chief executive Peter Bradford said Tropicana had been an important part of IGO’s history and a key driver of its sustained growth since its discovery in 2005. “While IGO continues to…